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The weather is heating up. So is the market.

The winter of 2014 was brutal – not just for skyrocketing heating costs and general miserable conditions, but because it slowed activity in many important segments of the economy – not the least of which was the real estate market. The cold kept many people inside, bundled up. But with temperatures climbing that pent-up demand means the market is showing definite signs of revival.

National Housing Trends show growth over 2013.

The National Housing Trend Report for March 2014 shows year-over-year growth in inventory and days on market, which are welcome signs for spring buyers. Combined with modest price increases, this growth speaks to a healthier market currently than in the early buying season in 2013.

A good time for selling…

Locally, the average price of a home increased significantly. In 2009 the average was just over $172,000. It rose to more than $183,000 last year and so far this year the average price is up to over $191,000. Obviously, if you’re on the selling end, that’s a very attractive trend.

…and a good time for buying.

If you’re on the buying end of the equation, there’s promising news for you too. Although the interest rate on a 30-year fixed-rate mortgage rose to 4.34% at the end of the first quarter it is still significantly lower than at any time in the past five years. What’s more the median price of a home during the first quarter stayed about the same as last year at $162,000, so there are definitely affordable homes on the market.

Going into summer is time to spring into action.

It follows as night follows day – as the weather warms up, the market will too. Soon you’ll be elbowing past other interested couples as you walk through open houses in the Columbia area. Before that happens, get a jump on the competition by calling us at the Ginsburg Group. Let’s discuss what you’re looking for and how it fits with your financial situation. We’ve been doing this for thirty years and that experience is invaluable to both buyers and sellers. Call us at 573-876-2891.


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