Friday, February 10, 2017 / by Ruben Vera, Broker Associate
According to RISMedia, "It’s a good time to be a seller." I totally agree!! Here's an overview of their blog titled It's A Good Time To Be A Seller: Sales See Highest Profits Since 2007:
Home sellers averaged a Twenty-One percent (21%) gain, or $38,206, according to ATTOM Data Solutions’ Year-End 2016 U.S. Home Sales Report. Sellers in the Bay Area (San Francisco & San Jose) saw the highest gain at Sixty-Nine (69%), while the Los Angeles market enjoyed a Fifty-Two (52%) gain. Forty-four percent (44%) of all housing markets reached all-time price peaks in 2016. The share of distressed properties (bank owned, foreclosed, short sales, etc.) dropped from 18.8 % to 16.2%; that's a nine-year low, and that's a great thing.
With "For Sale" property inventories as low as they currently are, it certainly appears the 2017 Real Estate market will be a strong Seller's market. Buckle up, it's gonna be an interesting ride. If you, or anyone you know, needs help with buying, selling, or property management, please put my expertise to work by contacting me at 757-581-9058 or RubenVeraHomes.com. I look forward to hearing from you!!
View the full ATTOM Data Solutions report HERE.