According to the S&P CoreLogic Case-Shiller National Home Price Index that came out last week, January home prices jumped 11.2% year over year—marking the highest gain in almost 15 years. Craig Lazzara, managing director and global head of index investment strategy at the company, explained that January’s numbers remain consistent with the opinion that the past year’s health climate has encouraged potential buyers to move from apartments in the city to suburban houses.
What does this mean for you? Well, if you’re a seller, it means that now could be the best time to enter the market if you want to get top dollar for your home. While Zillow economist Matthew Speakman said the expectation of increased price growth is projected to persist for many more months, you don’t want to wait too long to list since the current lack of inventory gives you a huge advantage as a seller. Speakman explained, “With more signs of an improving economy continuing to arrive, demand for housing remains elevated, leading homes to fly off the shelves and red-hot competition for the relatively few homes available for sale.”
If you are ready to take the next step or want to learn more about the benefits of selling in today’s market, contact your local Surterre agent today.
