There's good news for prospective home sellers: 2017 is looking to be a good year to sell a home.
Realtor.com recently published an article highlighting reasons why:
- Strong job market: The job market is strong and unemployment is down - and consumer confidence is up. In this environment, people are more likely to make big purchases, such as buying a home or a car.
- Low supply, high demand: The supply of homes for sale is low - and demand for those homes is high. This means home prices are high, and buyers are willing to pay. The average home price in 2015 was $220,000 - and in 2016 it was $234,900. This is a 6.8% increase in one year.
- Low mortgage rates: Mortgage rates remain low - although they are expected to increase slightly over the coming year. For buyers, low mortgage rates mean lower monthly payments. Over the life of a loan, this can mean savings of several thousands of dollars, when compared to higher rates.
Ready to sell your home? It is advisable for individuals who are selling a home to work with an experienced real estate attorney. Buying or selling a home is one of the biggest financial transactions an individual will make in his or her lifetime. Even the most simple of real estate transactions should be thoroughly assessed by an attorney. This can help avoid potential future disputes.
Talk to an attorney today: Contact a real estate attorney from Korshak & Associates, P.A., at 407-917-6786.