Homes of the Napa Valley

Serving the North Bay community for over 20 years

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Christine Hannah, Broker /Owner Ca BRE # 01273087
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Are You Thinking of Selling Your Home in Napa? Competition Is Coming!

August 13, 2018 by Christine Hannah

Are You Thinking of Selling Your Home? Competition Is Coming! | Simplifying The Market

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.

How will this impact buyers?

More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:

“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

  1. A great price on their home as buyers outbid each other for it.
  2. A quick sale as buyers have such little inventory to choose from.
  3. Fewer hassles as buyers don’t want to “rock the boat” on the deal.

Bottom Line

If you are considering selling your house in Napa Valey, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house. Our step-by-step systems will get you more money than you can get any other way.

Filed Under: For Buyers, For Sellers, Interest Rates, Millennials, Move-Up Buyers

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Christine Hannah
Realtor/Broker
707-257-6000
CRS, SRES
Homes of the Napa Valley
CAL BRE# 01278037

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