In many ways our local real estate market is enjoying a perfect storm of great returns for sellers due to exceptional demand level from buyers.

This is, of course, nothing new and is already a long term trend. As always, however, there is no guarantee as to how long it will last.

Although we've seen some increases in mortgage rates lately, they are still very close to historic lows and they have even started to retreat again in recent days.

To give some context of how relatively inexpensive home borrowing remains, lets look back at average 30 year fixed rates for March over the past decade:

2021 - 3.08%

2020 - 3.45%

2019 - 4.27%

2018 - 4.44%

2017 - 4.20%

2016 - 3.69%

2015 - 3.77%

2014 - 4.34%

2013 - 3.57%

2012 - 3.95%

2011 - 4.84%

(Source: Freddie Mac - 30-Year Fixed-Rate Mortgages Since 1971)

It's easy to see why buyers remain so highly motivated and why there is so much subsequent pressure on inventory of available homes.

We continue to see significant year on year improvements on seller returns each month, but the pressure on supply is severe, with ultra-low inventory levels.

If you've been contemplating a sale, then there really is no reason to delay and wait for something to change. Prospects have arguably never been better for sellers, so don't hesitate to get in touch with us at 928-445-2100.