According to the National Association of Realtors (NAR) Pending Home Sales Index (PHSI) January pending home sales fell to its lowest level in over 3 years. The decline is the result of rising mortgage rates and housing shortages. As of the writing of this eNewsletter, McCall’s pending sales were 41 with a median sales price of $369,000/$183 per SF.
Although pending sales are down, the good news is the economy is in great shape and the job market is very strong with rising incomes, making it a great time to sell a home. If you or a friend are considering selling, spring is a great time to put your house on the market. We can help with a market price analysis, and give you tips on how to prepare your home to sell in today’s market.