Homes Selling At Or Above Asking Price Nearly Triples In 2017

Dated: 02/22/2018

Views: 1646

Image title

Home price indexes took a major hit after the financial crisis a decade ago, and it took a long time for those prices to recover. But according to a recent report from CoreLogic, it looks like the market has officially recovered, which is obviously great news for sellers.


According to the report, as of September 2017, one-third of homes sold in the US were sold at or above asking price. And homes selling above asking price have nearly tripled since January 2008, making up one-fifth of all sales (and putting the share of homes selling above asking on par with pre-2004 levels).


Why are so many homes going for more than asking price? It's a simple case of supply and demand. According to the Housing Shortage Report from Realtor.com, the US is experiencing historically low inventory. There's not enough homes on the market to meet buyer demand, which is creating fierce competition and driving up prices.


If you're thinking about selling, now is the time to make a move. These competitive conditions won't last forever (new construction is already underway across the country to address the housing shortage), so use the housing shortage to your advantage and get the highest offers for your property.

Want to Advertise on this Site?

Latest Blog Posts

How To Survive A Kitchen Remodel

Becky Harris September 13, 2018 Houzz Contributor How to Survive a Kitchen

Read More

WATCH Elementary Students Winning MLK Oratory Competition Speech

Wesley Stoker of Harry C. Withers Elementary School in Dallas stopped by News 8 Daybreak to give his winning speech from the Gardere MLK Jr. Oratory Competition.Author:WFAAPublished:6:38 AM CST

Read More

Are Smaller Mortgages Tougher To Get Than HighDollar Ones

May 13, 2019Low- and middle-income buyers are having a hard time qualifying for mortgages that are too small, The Wall Street Journal reports.Low-end borrowers are having their

Read More

Google Plans To Invest 13B In Real Estate

Google's appetite for real estate is growing. The tech giant’s CEO announced this week that the company is building new data centers and offices and plans to expand to several key locations across

Read More