Realtor: Local housing market hot for sellers

Published: Apr. 28, 2017 at 8:30 PM CDT|Updated: Apr. 29, 2017 at 6:21 AM CDT
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(WAFF) - It's like the perfect storm: One North Alabama real estate broker says so many little things need to be ordered just right for a housing market to be as good as it is right now.

Debbie Epperson, with Berkshire Hathaway HomeServices/Rise Real Estate, has been selling homes in North Alabama for 24 years.

The numbers indicate that right now may be the best time to sell ever.

"Prices are going up. Sellers are making $35,000-40,000 more on average now than in 2009, so it's a great time to sell now," Epperson said.

On top of that, houses are selling faster. Days on the market have shortened by 1-2 weeks, Epperson said.

She did a comparison.

Epperson said in April 2009, her association sold 634 houses.

This month they've already sold 807 houses, which doesn't include the final days of the month, expected to be huge selling days.

"That's a huge 25 percent increase," Epperson noted.

So what contributes to this?

First, there's a lot less inventory right now than there was at this time in 2009. In April 2009 about 6,500 homes were on the market.

Now, there are about 5,200. Epperson says there's almost a shortage now.

"It's a sellers' market as opposed to a buyers' market," Epperson said.

Other factors include a major political change in our country, renters' leases are up in January (leading some to contemplate buying instead of renewing), and improvement in the overall economy.

"Our marketplace right now is really, really improved since 2009. Of course, 2009 was coming out of a slump year, and now we're finding the market is really hot," Epperson said.

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