March 2019 Real Estate Market Update for Central MN
If you’re wondering if now is the time to put your home on the market, you’re in the right place. Paula Quinn, RE/MAX Central.
I’ve worked with so many sellers and I know how difficult it must be to know who or what to believe. Well I always say, let’s see what the data tells us.
Nationwide we’ve had the lowest number of single family homes listed since last June. This is important for you as a seller to know because this means you won’t be competing with as many homes.
Also historically April, May, June are when the inventory levels are at their highest. This means that you’ll have more homes you’re competing with if you wait.
The other advantage to selling now is that mortgage rates were lower in January then what we’ve seen in the last eight months. This means more buyers can qualify to buy your home now.
So lower mortgage rates and lower inventory levels are both advantages to a seller.
Worried about a crash? I think not!
See, all the major influencers in real estate are projecting growth and appreciation through 2020. So be careful when you’re reading articles that are saying we’re going to be headed into a recession. What we do see is that home appreciation isn’t increasing quite as drastically as it has in previous years. But the experts are projecting that prices will continue to appreciate, just at lower levels. And honestly, this slow down will be a benefit to the housing market.
Look, I know with all the noise out there it’s really hard to decipher what or who to trust. But when you are working with a business and marketing expert who really understands the ins and outs of what’s going on, it’s essential to maximizing the return on your most precious investment.
Reach out and we’d be glad to advise you. Paula Quinn Homes, RE/MAX Central.
Your March 2019 Estate Market Update in Central MN