The National Association of Realtors has released January existing home sales data:
The initial take away from this might be that the market has softened. This might be the logical conclusion if inventory was at a reasonable
level. However, in Northern Virginia we are seeing fewer sales because inventory is…..in a word….”stinky”. Now that the holidays and the
Superbowl are over, we are seeing some new inventory trickle in but the well priced, appealing homes are going quicker than you can say
“Did you see this listing”. So, don’t believe the hype about home sales decreasing. With inventory still low, now might be the best time to
list your home. There are buyers waiting and your competion is on the sidelines, waiting for the tulips to come up.