Tuesday, 05 February 2013
By the end of 2012, it was clear that the real estate industry is finally recovering from the dip in the economy and looking towards a great year in 2013. Buyers are ready and able to find great deals on financing, sales percentages are rising, and the holiday season is over. Where are all the sellers? Sales are higher than they have been since 2007. The only thing keeping a house from selling - is not listing it!
Usually there is a dip in new listings towards the end of the year with the holiday season and then a rise after the first of the year. This year, home listings were down 30% this January compared to 2012! So, where are all the sellers? Recent surveys reveal that some homeowners are still cautious about listing their home. But, this is exactly when they should be listing their home for sale! With inventory down and sellers on the lookout now could not be a better time to list a home. While the number one concern among homeowners is missing out on future gains due to the price increase, as supply rises the prices will even out. In addition, as the supply rises, so will the competition.
2013 will also see a lot of new houses on the market, as the home construction and development industry is recovering. New subdivisions, condos and projects that have been on hold will be back on track and finished by this summer. Brand new houses are huge competition for homeowners looking to sell an occupied home.
If you are thinking of selling your home on the Eastern Panhandle of West Virginia and would like to discuss your options, please contact us. As the leading real estate team in West Virginia’s Eastern Panhandle, we can offer the expertise and knowledge to make sure you get the most out of your home selling experience.
The Kable Team
RE/MAX 1st Realty
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