A new report just came out form the National Association of Realtors (NAR) stating that the amount of homes under contract in February 2016 was the highest it has been since July 2015.
What does this mean?
This means that the Boise real estate market is heating up! Traditionally the most popular months for buying a home are the summer months, but for February to reach such a high number of homes under contract means that people are buying now and even more people will be looking to buy this summer. Now, let’s take a trip down memory lane and think back to our high school economics class, remember supply and demand? With so many people looking to purchase a home; home prices will start to rise as the supply of homes will start to decline. This has implications for both the buyers and sellers out there.
I’m a buyer, what should I do?
It means you should start to get your ducks in a row….like, right now! If you want to purchase a home soon, you are going to be meeting some stiff competition and prices are going to continue to rise. If you don’t want to see your dream home slip out of reach, act now!
I’m a seller, what should I do?
The market is hot, hot, hot! It is a great time to get your home sold. As the number of buyers in the market increase, so may the number of listings to compete with. Selling your home now rather than later may get your home seen by the most people and get the best price possible.
I want to buy and sell, help!
If you want to sell your home and then buy a new one, our best advice is to get started now! Core Group Realty has the team and the expertise to get the job done, call us today at 208-639-7724 and get in touch with one of our specialists. You can also start your search at www.corehomesearch.com or get a valuation started on your current home at www.getmorewithcore.com.
Blog by Cara Fust