Forecasts for 2020 home sales are in, and they’re strong thanks to three factors. The combination of rising rents (3% annually) and low interest rates will motivate buyers to purchase. The
Expect 2020 sales to rock
Dated: February 21 2020
Forecasts for 2020 home sales are in, and they’re strong thanks to three factors. The combination of rising rents (3% annually) and low interest rates will motivate buyers to purchase. The solid job market will add a shot of confidence to both buyers and sellers. January sales figures from the Greater Greenville Association of REALTORS confirm the year is off to a solid start. Home sales last month totaled 834, marking a 27% increase compared to Jan. 2019. Other highlights from January sales:
> Average time to sell a home fell for the ninth consecutive month
> New listings to the market grew 4.2% to 1,524
> Median sales price moved higher to $216,190 (12-month rolling avg.) compared to Jan 2019
Even though the inventory of homes for sale is improving, this historical perspective shows just how low the inventory is. The monthly tracker charts levels from 2008, where inventory stood just below 7,000 homes for sale. January 2020’s total was 4,512.
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