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Timing couldn't be better

Housing market’s strong performance a plus for sellers

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September 28th, 2015
house for sale
house for sale

In June, home purchase contracts hit the highest amount since April 2006. Nearly 10,000 contracts reflected a 24% increase compared to April 2014. 

According to real estate experts the Otteau Valuation Group, several factors have contributed to the housing market’s uptick: pent-up demand, rising rental rates, low interest rates, loosening credit standards, and recent improvements in job creation.

Strong fall market

Historically, home sales slow through the end of summer but peak again in October. 

“We expect a strong fall market,” says Personal Moving Consultant Laurie Williamson of Seabr..., an Erickson Living community in Tinton Falls, N.J. 

Williamson provides complimentary coordination of all realty and moving needs, including downsizing, home staging, packing, and selection of a real estate professional. 

She’s also a local real estate agent.

“Fall is a great time to move. Not only is the market hot, you can move before cold weather and the holidays settle in,” she says.

Good news for sellers

While some experts project interest rates to rise, they most likely won’t spike just yet. 

The rumors may, in fact, cause buyers to flood the fall market in hopes of securing a lower rate. Due to a gentle loosening of mortgage underwriting standards, a slight rise in interest rates should not deter homebuyers.

“Rents have become so high, which is pushing buyers into the market,” Williamson says. “Mortgage money is easier to get, and buyers can often purchase a home with 10% down or less. This is good news for sellers.”

Even areas with traditionally low volume of home sales and lower home prices are experiencing a stronger market than they have in years. 

What’s more, the increased pace of home sales along with low inventory has been pushing home prices higher across the state. “So if you’ve been waiting to put your house on the market, now is the time,” Williamson says.

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