Updates on Wine and Real Estate in Napa Valley
Winter is a great time to list a house, since inventory is traditionally low, and most sellers are holding off until spring to put their homes on the market.
Waiting for warmer weather when more competition is on the market will only put your house up against many more choices for buyers.
Get your house ready to sell now with quick and easy fixes that make a big impact.
Some Highlights:
According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32.
With more millennials entering a home buying phase of life, they are driving a large portion of the buyer appetite in the market, keeping buyer activity strong.
More and more “old millennials” (ages 25-36) are realizing that home ownership is now within their grasp, and they’re actively dominating the first-time home buyer market!
Some Highlights:
Existing Home Sales are currently at an annual pace of 5.46 million.
The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply.
Inventory remains low due to high demand from buyers who are still looking for a house to buy!
Some Highlights:
The National Association of REALTORS® surveyed their members for the release of their Confidence Index.
The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices, and market conditions.
Homes across the country are selling quickly, in an average of just 31 days.
49% of homes sold in less than a month.
