4 Signs It’s a Sellers’ Market in Real Estate Right Now
It’s a great time to be a home seller.
After years of dealing with hesitant buyers and disappointing home values, those with homes on the market are enjoying the benefits of a true sellers’ market in most regions of the country.
Home prices in April increased nearly 7 percent from the previous year, according to CoreLogic. And a survey from Coldwell Banker released today list four reasons sellers are sitting prettier:
1. Homes are selling even faster than in the pre-recession years. More than a quarter (28 percent) of today’s sellers were able to sell their home in less than two weeks. By comparison, only 19 percent of homes sold in that time frame in 2006-2007.
Related: 9 Real Estate Trends to Watch in 2015
2. The bidding war is back. Nearly half (47 percent) of today’s sellers are reporting receiving multiple offers on their home, up from just 40 percent from 2010-2013.
3. Homes are selling for more than the list price. Those bidding wars are pushing the sales price of home past the asking price. Of today’s sellers surveyed, 27 percent said they had sold their home for more than the list price. During the recession, just 14 percent of sellers reported doing so.
4. Sellers no longer feel pressure to take the first offer received. Less than half of today’s sellers take the first offer they receive, down from nearly 60 percent during the recession and in the early years of the recovery.
Will Trump's Tax Cuts Really Happen? Economists Are Surprisingly Optimistic
Despite all the thorny questions swirling around President Trump's nascent tax reform plan, 29 of 38 economists surveyed by Bloomberg in a monthly poll said they expect Congress to cut taxes by November of next year.
The hitch: The economists don’t expect the cuts will help the economy much. The median projection of a larger group of 71 economists is for 2018 growth of 2.3 percent, up only slightly from 2.1 percent this year — and by 2019, the economists see growth slipping back to 2 percent.
