2015: The Best Year for Housing Sales Since 2006

          

Powered by the prospect of increasing mortgage rates for 2016 and warmer than typical weather in November and December, existing-home sales in 2015 were up 7.7 percent over 2014, marking the best year since the boom of 2006.

 

 According to numbers provided by the National Association of Realtors, the median existing-home price for all housing types was in December was up 7.6 percent to $224,100, and the number of distressed homes-short sales or foreclosures-dropped to 8 percent in December, down from 11 percent in December of last year. Additionally, homes sold quicker. On average, homes stayed on the market for 58 days in December, which is below the 66 days in December 2014.

With limited inventory, mortgage rates continuing to increase, the increasing number of millennials beginning to hit the home-buying market, it is a great time to sell your home. If you or someone you know has been considering making a change, let us help you sift through all the details of this fun and exciting process.