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Housing Market Gone Haywire

(NerdWallet) – Real estate agents have an urgent message for homeowners: Now is the time to sell. “A lot of people are missing the best market now by waiting,” says agent Kris Lindahl.  Search homes for sale in Flying Horse, Colorado Springs here:     http://www.rehava.com

Home sellers wield formidable negotiating mojo because demand outweighs supply. Buyers outnumber sellers, as relatively few owners are putting their homes on the market. The supply of homes for sale settled at an unprecedented 1.9 months in January, much lower than the six-month supply that marks equilibrium between sellers and buyers.

Sellers call the shots, and the proof is in the pricing. The median home price rose to $303,900 in January 2021, a 14.1% increase compared with 12 months before, according to the National Association of Realtors.

Does that make it sound like sellers have it easy? Most don’t, because they’re looking to buy, too. Here are some factors sustaining this seller’s market, and the decisions that owners will face when listing their homes for sale.

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