The New Construction Boom in
Montgomery County Maryland
Could Stop Your Selling Plans. .
If you are planning on selling your home IN 2015-2016, now may be the "BEST"time to act.
Demand is high, across the country and supply is low. Many homeowners are experiencing and benefiting from an almost auction atmosphere with several buyers fighting for some houses located in key hot real estate market areas, buying these homes in a multi-bid environment.
Montgomery County Maryland is no exception to this current housing environment. Higher prices, interest rates at historic lows and lenders being less stringent contingencies are making it easier for the seller and harder for the buyers to find a suitable home that fits their needs.
. . .and another reason to sell right now!
More competition is about to hit the market in the form of newly constructed homes. This may put an end to the buyers’ frenzy over the limited inventory of existing homes which has been below normal levels for over a year. According to the latest report from the National Association of Realtors (NAR), the forecast for new housing starts and sales will increase significantly over the next two years:
NAR is forecasting 1.1 million new housing starts in 2015, jumping to 1.4 million in 2016.
New home sales are projected to increase from the 437,000 in 2014 to 570,000 this year and
720,000 in 2016.
The first step you should take if you are thinking on selling soon. .
Determine how much your house is worth in today's market.
The most reliable method of doing this is by contacting a professional Real Estate Agent that specializes in selling homes.
The least reliable methods is to use the Internet and a program generated value that does not take in consideration many factors and portrays all houses as being the same.
Making a decision to sell a home is very important, you should do this based on actual reliable facts.
I would like to assist you in making the right decision by going our selling homes page