As November begins, the housing market only continues to thrive.
The summer season pushed into fall, causing September sales to surge, according to the latest RE/MAX National Housing Report. Here are three things you should know about the latest market numbers.
- Closings rose 21.1% from a year ago.
- Homes sold at an average of just 39 days – that’s a full week faster than last year.
- Inventory continues to struggle with buyer demand – plummeting a record 31.9% over last year.
The numbers prove the resilience and strength of the market. Buyers are jumping at the opportunity to make a purchase. Low-interest rates continue to attract buyers looking for a sense of community, more amenities, and the security of owning a home.
Right now, more than ever, we have been learning the value of having the right home that meets our family size and lifestyle. With the recent restrictions due to COVID-19, more individuals have been home than they have been in years. Therefore, they see what they want or need in a home, increasing home improvement activities around the Nation, and increasing household changes. Often, when we are busy doing events, activities and are out and about, we cannot assess our needs to make the choices necessary for a move. But this time in 2020, we could pause for a moment giving us the ability to think through these options, and many are taking action.
Check out the full report here.
If you’re thinking about buying or selling and taking action, you must prepare. Navigating this competitive market takes an expert. Our RE/MAX Capitol Properties real estate professionals are happy to help you make your move this fall. Give us a call at 307-635-0303. We will pair you with a talented agent who can help you take the necessary next steps to make your upcoming move.