Hello my name is Michael Rizzuto and I’m a licensed real estate agent with Coldwell Bankers- Regional Sales Center in New City, NY. This column will list the open houses for the upcoming weekend and give the current housing market statistics for Rockland County. If you have any real estate questions, please feel free to Email me at:Michael.Rizzuto@cbmoves.com. For a great real estate resource go to www.MichaelRizzuto.com
For the first time in a very long time, industry experts and watchers have been very consistent about the status of the real estate market and they all agree; activity is increasing and prices are rising nationally. There is substantial data that reflects their opinions. According to the National Association of Realtors® (NAR), pending home sales are the highest they have been since March 2007. On a year-over-year basis, pending home sales have risen for 18 consecutive months.
Prices are rising as well. According to the S&P/Case-Shiller Home Price Indices, home prices rose over six straight months. Consumer confidence in the economy and an improving job market are important factors. Additionally, the steady increase in rental costs and incredibly low mortgage rates are driving more and more buyers into the market, creating fierce competition.
There is also an incredible lack of inventory. With less homes to choose from, buyers are suddenly finding themselves in bidding wars. If you are in the market to buy, then you need to come prepared with financing and be ready to make a quick purchase decision and a reasonable offer. Ensure that you are more prepared than your competition, and you will be in a better position to obtain your dream home.
For sellers, the message is very clear. Put or keep your home on the market and ensure that the property is in excellent showing condition. Buyers are in the market, and your property could be their next dream home. I can guide and advise you throughout the entire home listing, selling and purchasing process. Please feel free to call me today.
Rockland County Housing Statistic (Activity last 30 days source MLS)
Houses Condos Total Inventory 985 336 Under Contract 311 116 Title Transfer 145 40