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This Month in Real Estate [November 2013]

Primary Reasons Sellers Decide To Move

Continuing with our monthly updates, we first take a look at the new housing numbers. Home sales activity is at an annual pace of 5.29 million. Of those houses, their median home price was at $199,200. Those median home prices are at an increase from last year by +10.7%. The average annual rate on a fixed rate mortgage dipped to 4.28%.

According to KW research, sellers put their home on the market for one of a few factors. Here are the top 3 factors for home sellers putting their home on the market :

  • A desire to upgrade by moving into a bigger home or into a better area
  • Need to relocate for work purposes
  • Change in family status (newborn, children off to college, retirement)

For sellers looking to appeal to first time home buyers, your local real estate agent can help you make the most of these factors when you are ready to sell.

As always, contact your local real estate professional with any inquiries about which measures you should take to help you at the closing table.

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