SELLER OPTIMISM GROWS

As prices continue to rise, more sellers are putting their homes on the market than this time last year. This movement is a sign of confidence in the gains sustained through the winter and an indication of a strong early beginning to the spring home buying season. Data from realtor.com® reveals the number of properties for sale in February rose 10.1 percent above February 2013 levels. The median list price at $199,000 increased 7.6 percent compared to the same month last year.

Overall these figures indicate a continued reinforcement of steady gains and market stabilization that we’ve been watching since late last summer.  This is the market these sellers have been waiting for.

Many have speculated that as homeowners gained equity across 2013, sellers otherwise prevented from making ‘life event’ associated housing changes, for various reasons such as births, children entering school, aging home owners downsizing to smaller residences and others, now are finally able to tap into the resources necessary to make those changes. The increase in inventory is even more noteworthy given the severe climate conditions that likely dampened a more typical month of listing activity across much of the nation.

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