For the last several years, home sellers had to compete with huge inventories of distressed properties (foreclosures and short sales). The great news is that the supply of these properties is falling like a rock in the vast majority of housing markets (only 11% of homes sold in January). Many homeowners are now thinking of selling as the impact of this substantially discounted competition has disappeared.However, every seller of an existing residential property must realize that there is a new form of competition in the market: newly constructed homes.According to the National Association of Realtors’ Profile of Home Buyers & Sellers new home sales accounted for 16% of all homes sold in 2014. The graph below shows the top 5 reasons that a buyer would choose new construction over an existing home.
Author:Ann Marie Cancro Phone: 717-468-1301 Dated: March 19th 2015 Views: 386 About Ann Marie: LICENSED: Licensed Real Estate Professional since October 1990.
AFFFILIATIONS: Lancaster Assoc. o...
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