Your Home: Housing market
Ryan Peterson checks in on the housing market as we head into the winter months. He spoke with a local real estate broker about how home sales have fare so far in 2012.
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"The market is really starting to turn the corner as we go into 2013. We're starting to see prices go up, which is a good indicator that this is becoming more of a seller's market. It's going to get better as time goes on. Slowly, but a lot better," explained Willie Miranda, real estate broker.
Miranda said if you're looking to buy, you better be ready to pounce. The number of months houses stay on the market is dropping, which is making things a lot easier on the seller.
"Inventory was on the market for about 15 months, we're starting to see that number at 9 and 10 months on market now. We're becoming more of a sellers market. There's more opportunity out there for sellers to get their homes sold quicker. We're starting to see multiple offers come in, which is great," noted Miranda.
Winter is often a very slow time for home sales. However, Miranda said that this might be exactly the time to put your home on the market if you are looking to sell.
Miranda added, "Let's face it, homes are sold throughout the year and most people wait until the spring marketplace. We always tell sellers that listing your home in the fall and winter months is a great time to do so because there is less competition out there. Just make sure you price it correctly and market it aggressively."
Why such a rosy outlook? Well, Miranda chalks it up to consumer confidence. He said the economy continues to improve and, most importantly, those interest rates remain at rock bottom. Which, again, is why Miranda and others are once again seeing multiple offers on listings.