The real estate market is enjoying more good news with the announcement that the number of people actively looking to buy new property is continuing to increase. As more buyers contact realtors about potential purchases, the demand for more homes to choose from is also growing.
Coupled with the various mortgage options currently available at equitable rates of interest, this increase in buyer interest may be enough to motivate sellers who took homes off the market due to lack of sales to rethink their stances and place their homes back on the market.
According to Hometrack, a leading real estate analyst, the increase in buyers has risen 36% in the last six months, based on the increase in buyers registering with realtors. The figures do not account for others who are still in the process of looking at properties, but have not yet committed to serious property speculation.
With speculation that interest rates will rise over the next several months, many buyers are anxious to make a move now, while the rates are still somewhat low. All these factors combined could turn the real estate market into a sellers market in a very short period of time.
For anyone who is thinking of selling a second home or perhaps selling a primary home with an eye to purchasing something smaller, now is an excellent time to begin preparing the property for market. Now that the demand has helped prices to stabilise, the chances of receiving the full asking price are much better than even two months ago.
Tags: Hometrack, mortgage, property sales
