Record low inventories continue to drive housing prices to meteoric highs. Americans are hitting their prime home-buying years and not finding anything on the market. Home sellers can expect to see multiple offers for their property as well as offers well over the asking price. This along with the advantage of not paying any closing cost for buyers, makes it a “sweet” time to sell and get all that equity! In most cases sellers are downsizing so they should not only have funds for their new purchase, but possibly cash to put away or use for other purposes. Who knows how long this will continue as mortgage rates continue to climb,; some buyers may very well get priced out of the home-buying process altogether and we could see sells prices start to stabilize as a result.
