Here Is How To Make Sure That Does Not Happen To You…
It seems that the recession and the foreclosure crisis has finally tipped the supply and demand table, at least for a short while. Prices have risen and supply has declined year over year. It is foretasted to continue for this year as well!
Click here first to pull up these important charts you will need to see these changes and what they may mean for you.
- For single family homes in the Charlotte city limits from 2012 to 2013, the average sale price rose from $219,203 to $251,339. That is a difference of $32,136 in a 12 month period!
- For that same type and period, the average months of supply of homes fell from 4.0 to 3.1. Keep in mind a balanced market is considered to be 5 to 6 months of supply.
Here is what that means to you
- When looking at the attached chart, you can see that waiting for even a few months can equate to significant changes in the price you will pay for a home.
- The average prices and months of supply will vary by neighborhood but they are also subject to the same swings. I see it all of the time.
- If interest rates continue to go up, you will pay more there also in terms of the monthly payment on the price increase!
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