Rates are low and so are inventories........but that's changing.
There's been an average of 350 new listings, a day, throughout last week and today, on the NWMLS, there's 381 new listings.
Inventories have been low, resulting in multiple offers on many available properties.
As Spring brings the blooming flowers and shrubs, more sellers decide it's time to put their house on the market AND 2015 is a great year to SELL.
Because of shorter inventories, values are inflated (Supply and demand).
2015 has seen new vigor in the economy, as well, and that means lenders are lending more $$, consumers are feeling more optimistic and, yes, they buyers are lining up to buy houses.
What I'm beginning to see is inventories spiking and, as more properties come available, that supply and demand pendulum should begin to favor the buyers, despite the fact that values should continue to grow.
Essentially, we're heading toward a SWEET SPOT, when the market is nearly balanced between buyers and sellers.
As long as the economy continues to grow, we can expect housing values to climb.
For sellers that have been waiting for the right time to sell, it's NOW.
THAT said, there's many sellers who want to wait to see how much higher their values will go, but history has taught us that speculating doesn't, always, work out well and for sellers who, also, want to re-enter the market to buy that, next, house - waiting may end up costing them more than they gain by waiting.
Yes indeed, this Spring/Summer 2015 Housing Market is going to be a VERY interesting experience.
If you're selling or buying, in Western WA, ring me up !
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