It should! This article in the NY Times points to specific upward trends in real estate. One doesn’t want to get overexcited about this stuff, numbers will fluctuate after all. But I continue to see extremely low inventory locally, and competition for homes has been fierce. Certain price points are attracting literally scores of buyers, in fact my last several listings received multiple offers and sold quickly for over the asking price — sometimes way over.
What does this mean? I’m advising all my sellers who have been waiting for prices to rise to go for it. Buyers are out looking, and the right house at the right price is likely to sell.
For buyers, my opinion is it’s time to step up your search. Interest rates are historically low right now. The way things are trending, we will likely see increased prices — and competition — in the near term.
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