In their current edition of the Home Price Expectation Survey released last week, Pulsenomics asked this question of the 100+ economists, real estate experts and investment & market strategists they surveyed:
"In your opinion, what is the primary driver of recent home value growth in the U.S.?"Here are the top four reasons given by those surveyed: As we have stated before, the current lack of inventory in most housing markets has caused home appreciation to increase at greater percentages than historical averages. This means that this is a great time to sell your home as supply is low and demand is high.
However, things may be about to change...The fortuitous situation sellers see themselves in may soon change for three reasons:
"Lenders have been taking advantage of the strong seller's market to dispose of lingering foreclosure inventory."
Bottom LineIn most housing markets, don't wait for this additional competition to hit the market. If you are considering selling your house, now may be the time.