In the Northeast, specifically New Hampshire and Northern Massachusetts there is a housing shortage, meaning more people want to live in these areas, but there are not enough houses.
As a result, buyers are bullish, entering into bidding wars with other prospective buyers and seeking to find houses before they even go on the market.
For buyers, this is the perfect environment to sell their home quickly and for more money than the listing price. And who doesn’t like more money?
Just from last year to the beginning of 2017, there has been a decrease of available homes by 32%. Not enough people are interested in moving, and construction companies are having difficulty with finding lots to build on, which gives an advantage to sellers.
Currently, the buyers in NH and MA fall into one of two demographics. Millennials looking to move out of their parent’s house, now that the economy has rebuilt itself from the recession in 2012, or retirees looking to downsize.
The housing shortage is occurring because both these demographics are looking for similar types of houses; more environmentally sustainable homes where they can leave a smaller footprint and produce less waste.
If this sounds like your home and you have been thinking about selling your house, now is the ideal time. I would love to work with you. I am licensed both in NH and MA and can help you quickly sell your house as 2017 has been a seller’s market.