The numbers are in and the Pittsburgh housing market is doing exceptionally well. Reports show that listings were up by more than six percent last year and sales increased by eight percent in Pennsylvania. Such numbers are double of what the market statistics were in 2014 where sales were up by just over three percent.
“Healthy housing inventory levels and affordability remain key factors for continued optimism,” says West Penn Multi-List President Ron Croushore. “The December national short-term interest rate increases were no surprise, and more increases are expected in 2016, without significant anticipated impact on the real estate market.”
So what does this mean for you? Well, now is the time to buy.
The National Association of REALTORS reports more than six million homes exchanging hands last year. Such figure makes it the first time since 2006 that consumers have rushed to purchase property. Even with the scarcity in available property, it is still possible to obtain dream homes at fair prices. Consumers should come to the table prepared with a reasonable down payment (20 percent is usually standard) and strong work history to obtain best results.
“But what if I’m looking to sell and not buy,” you ask. The market is good for you too.
Statistics show that homes sold twelve times faster last year than in 2014. On average, real property placed on the market in 2015 was purchased by consumers within 58 days. It appears that scarcity in terms of homes for sale coupled with an eagerness to invest in real estate is causing homes to go rather quickly. Such rapidity is bringing true benefits to those looking to sell.
When you want to sell or buy fast, consider Caymus Realty Solutions. We buy homes in any condition and pay cash for your home. Our process is simple and payout comes quickly. Call us today to learn more!
Photo: Dave DiCello