Last February 2013, Randolph County NC home sellers had a number of reasons to anticipate Randolph County home sales selling season in spring. It was the opposite of the long “Perfect Storm” that caused free fall in real estate across the nation.
Right now, signs are pointing to the possibility that the market is headed into the opposite direction. According to the dictionary, the antonym of “storm” is “calm,” but we don’t think the Randolph County real estate market is far from being a “perfect calm.”
Here are the signs we are talking about:
1. Fewer Inventory. According to NAR’s Existing Home Sales Report, there is a shortage of inventory all across the U.S. It had dropped by 4.9% at the end of January, which is a record low in 7 years. We have never seen unsold inventory this low in 14 years!
2. Increasing Demand. Last month’s NAHB’s (National Association of Home Builders) News and Alerts bulletin states that the demand for housing is on the rise. Buyer traffic has gone up to 40% compared to last year. We are now seeing a seller’s market across the nation.
3. Buyer Confidence. According to the Conference Board’s Consumer Confidence Index last February, there has been a rebound of buyer confidence from January. The ‘Present Situation’ index rose significantly to 63.3 from 56.2. One good sign of buyers’ improving attitude is the number of people expecting their income to increase is now rising while those expecting the opposite is dropping.
If this spring proves the exact opposite of a “perfect storm” for Randolph County NC home sales, will market conditions continue to improve? Should home sellers wait further? The dropping inventory rates are a clear answer.
If you are planning to sell you Randolph County home and are just waiting for the perfect time to enter the Randolph County NC home sales listings, now is actually the perfect moment! Contact me so we could help you from step one to a successful closing of your Randolph County home for sale!