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Spring Home-Buying Season Gets an Early Start

RISMEDIA, Monday, February 27, 2017— Housing is set to smash records in February, with realtor.com® forecasting both the fewest days on market since the recession and the month's highest list prices—an early start to the spring home-buying season, says realtor.com Chief Economist Jonathan Smoke. "The spring buying season is off to a booming start," Smoke says. "Not only is the season starting a month early, February is also expected to see the fastest-moving inventory in a decade, as well as the highest home prices the month has ever seen. Homebuyers, take note: This year is shaping up to be even more of a seller's market than last year." Data from realtor.com indicate the median list price will be $250,000 in February—a record-setter—and listing inventory will be up 2 percent from January to 425,000. The median age of inventory for February, in addition, will be 91 days, a 5 percent dip from both January 2017 and February 2016. Based on the data, the hottest markets in terms of median age of inventory will be Vallejo-Fairfield, Calif. (33 days), San Francisco-Oakland-Hayward, Calif. (27 days) and Dallas-Fort Worth-Arlington, Texas (44 days).

For more information, please visit www.realtor.com.


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Tamara Zyhylij (za-haley) 

 

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Tamara Zyhylij is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01368097.  All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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