Trying to sell your home in the Dallas area? You might find it more challenging to find the right buyer today.
That’s because sales of existing homes are falling, and the number of people touring homes across the country is also on the decline, according to the latest research from the National Association of Realtors.
First, consider home sales. The Realtors association reported said that total existing-home sales fell 2.3 percent in April when compared to a month earlier. The association also said that Realtors are on pace to sell 5.57 million single-family homes, townhomes, condominiums and co-ops this year. That pace is down from the estimated 5.70 million sales of these property types in March.
The Realtors association also released its May 2017 foot traffic report, a report that looks at the number of properties shown by Realtors to potential buyers. Obviously, the more people who tour a home, the better its chance of selling quickly. According to the latest report, the number of people scheduling showings and touring homes did rise in April when compared to March. However, the number of people touring homes for sale has dropped significantly from the same month one year earlier.
If you’re not seeing the foot traffic through your house that you’d like, or if you aren’t receiving a high enough number of showings, it might help to work with a company like ours that buys available homes. Go to this website to learn more about our services and how we might help you move your home faster.
Why have sales dropped and foot traffic slowed? That’s impossible to say. But home sales have dropped across the country in correlation with a continued increase in existing-home prices. Perhaps rising home prices are driving some buyers out of the market.
The Realtors association said that the existing-home price for all types of housing stood at $244,800 in April. That figure is up a solid 6 percent from the same month one year earlier, when the median existing-home price was $230,900.
Median existing-home prices have been on a steady rise for a long time now. The Realtors association said that April’s increase in this figure marks the 62nd consecutive month in which median home prices have shown an increase.
These increases in home prices are a positive for sellers … unless they keep buyers away. And that’s what can happen. Even small increases in home prices can drive buyers away from the housing market. And when there are fewer buyers out there, it can take even longer to sell your home.
And living in a home while you’re selling? That’s a challenge. It’s never easy to keep a home clean enough for showings while you and your family are living in it. By working with a company that buys homes, you can avoid all of the hassles of living in and maintaining a home in showing condition.
Selling a home with a company like ours also gives you the chance to move on with your life. You might have to move for a specific reason. Working with a company that purchases home can help you move onto the next stage of your life in far less time.