CoreLogic came out with their Home Price Insights Report which showed appreciation rates in homes. Their findings are representing in the following graph:With these appreciation rates,
Clark County Washington Real Estate Watchers Cheer As National Pace Quickens
Vancouver WA real estate watchers, buoyed by last week’s stock market jump (a reaction to the bullish real estate statistics), were also digesting The National Association of Realtors®’ latest report: it carried more cheerful news about the expanding market for existing-home sales. Final numbers for May showed sales moving at the highest pace since November of 2009, which was a single month that spiked due to the home buyer tax credit. It also marked the 22nd consecutive month of year-over-year monthly price rises.
What is the “even better” news for Clark County WA area real estate sellers? It’s about the relationship between available inventory and the pace of sales. The listed inventory across the nation is actually 13% lower than a year ago — which translates into a median time on market of just 46 days. A year ago, that figure was 62 days. In other words, across the nation, sales of existing homes are moving a full 45% faster!
NAR President Gary Thomas had some words for real estate buyers that potential sellers will be pleased to hear. “With homes selling in half the time it took to sell a year ago, buyers must be both decisive and prudent." Home sellers should love that word ‘decisive.’ It hints at the underlying condition of a market that’s becoming more competitive for buyers — buyers additionally empowered by April’s fall in conventional mortgage rates. For both Vancouver WA real estate buyers and sellers, now looks like time to “strike while the Clark County WA market’s hot”!
In case you have been one of those trend watchers, Front Door Realty is standing by. Why not give us a call to discuss how you can take advantage of today’s outlook?
Julie Baldino is a seasoned veteran of the Pacific Northwest real estate industry, and has consistently been in the top 10% in sales for over a decade in 2 states. In order to accommodate a rapidly ex....