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Spring is my favorite time to sell real estate. If you are looking to sell your home, there are three reasons why we are in a very strong seller’s market right now:
1. Demand continues to increase while inventory remains low. The number of homes for sale is down 8% year over year. Why? The job outlook is strong, and more millennials are coming into the market.
2. Home prices are still surging. We have appreciated 6% year over year, and I don’t see that changing anytime soon.
3. Interest rates are rising. Right now, interest rates are at 4.5% for a 30-year fixed mortgage. Although that is a three-year high for interest rates, it is still historically low and very affordable for buyers.
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