Housing Market Update 2019

Whether you’re looking to buy a home, sell your current home, or just simply interested in real estate trends- you need to know what’s happening in the housing market. Luckily, since 2017 the housing market has made a 10% jump, meaning now is the PERFECT time to sell or buy a home.

You’ve probably noticed that houses in this region are selling almost as soon as they post for sale. This is due to very low inventories of homes for sale, especially in specific price ranges. The current home inventory supply is 3.1 months, according to the Indiana Association of Realtors, while a balanced market has a 6-month supply.

What does this mean for you? If you want to sell your home, now is the time. Housing prices are strong, and houses are selling quickly and providing profits for home sellers.

ERA Integrity Broker/Owner Susan Falck-Neal has advice for anyone who’s looking to sell their home. “Homes that are move-in ready tend to sell more quickly and for more money. Buyers are hard on homes that need work and updating. Clean, paint, and declutter when getting a home ready to sell. These are inexpensive ways to increase a seller’s bottom line.”

As a buyer, what should you expect with the current housing market? Be ready to pay the asking price for a home you really love but be careful to not bid more than the home is worth. Call on a well-experienced broker or a broker who is part of a strong team to aid you in the buying process. This will ensure you won’t overspend, but still end up with a home you want. You will also want to get pre-approved through a lender so that when the right house comes available, you are ready to go in this fast-paced market.

ERA Integrity broker Louise Thompson encourages buyers to look at a variety of financing options. “We have great financing options in our area. Options range from traditional conventional loans, loans that can allow for home improvements to be financed in with a mortgage, and low- and no-money-down mortgages which is especially good news for current renters and first-time home buyers who thought they may never be able to own a home.”

Buying and selling a home in a fast-moving housing market can be exhilarating and exhausting all at the same time. At ERA Integrity, we will help you navigate the process and keep it as relaxed as possible. Give us a call at 765-529-2211 to begin your home journey.