Friday, March 10, 2006

Average Time to Sell Has Increased

We've pushed the average buying frenzie down to a lull to now more than 30 days to get a home sold. It should not be taking this long, but it is. Most listing agents and sellers do not want the home to "sit" for more than 30 days, so getting the price right on the home is even more imperative for these sellers. We believe, particularly with higher end homes, that the listing agent needs to not only engage in past and current sales on the market for pricing a home, but also in looking at and perhaps even visiting the current direct competition.

Nationally speaking and on the flip side, home prices have moderated in price only, not deflated. A recent survey is compelling to think about in terms of how sellers are still getting higher prices. A couple of surveys conducted by House Hunt reveal respondants view where "82 percent say they are getting 95 percent or more of asking prices. This compares with 80 percent in the third quarter and 90 percent in the second quarter of 2005."

Overall national sales data and forecasts of top industry econonmists say, "We are optimistic that a sustainable, more balanced housing market will be the cornerstone of the U.S. economy in 2006." This eye on the market is brought to you by Brian Habel, your local expert for any of your real estate needs at St George Utah Real Estate.

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