Are You an Optimistic Seller?

Sellers Becoming Confident in the Housing Market, Providing an Optimistic Outlook for the Housing Recovery

Realtor.com has released its March data on the U.S. housing market, which shows growing optimism and confidence among potential sellers. Realtor.com's March 2013 data indicates that while national housing inventory decreased 15.22 percent since last year, the number of listings increased 2.36 percent since February 2013. This month-over-month increase indicates a renewed willingness in sellers to put their homes on the market as list prices increased .05 percent both year-over-year and month-over-month to a national average list price of $190,000. The data also showed that the median age of inventory dropped to 78 days — a decrease of 20.41 percent since February.

"The newest data shows that the outlook is optimistic for the overall real estate recovery," said Steve Berkowitz, chief executive officer of Move, Inc. "The housing market is a key indicator for the national economy, and things are slowly picking up steam. The next three months will be significant in determining the impact of the recovering housing market."

California markets continue to show impressive recovery, and Denver, Detroit, and Seattle are three new markets showing promising growth. In March 2013, Detroit rose to Realtor.com's 11th spot nationally in its year-over-year list price increases, ahead of hot California markets such as Stockton and San Diego and one spot below San Francisco.

California continues to lead the list of the country's top performing housing markets with the largest year-over-year decline in for-sale inventories. Seattle is the only market outside of California in the top 10, and experienced a decline of 40.17 percent in for-sale inventories year-over-year. The 10 markets with the largest year-over-year declines in inventory are Stockton-Lodi, Sacramento, Orange County, Oakland, San Jose, Los Angeles-Long Beach, Ventura, San Diego, Riverside-San Bernardino, and Seattle. Of the 146 markets Realtor.com monitors, only nine experienced an increase in for-sale inventory.

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"It's beginning to look a lot like Christmas"...

Sellers who remain "on the fence" might be in for a delightful increase in market value. Are you read to sell? I'm ready to help!

Carylee Stone

Distinctive Properties

858-344-2632

carylee@stonehometeam.com