Our friends at the Cromford Report are great at providing perspective in a market like this. 

First prerequisite for the slide is to know that the Cromford Index measures whether it is a seller’s market or a buyer’s market and, if so, by how much. The 100-line is the division. Seller’s market above. Got it?

Okay, so you can see here how the seller’s advantage started tanking back in 2005 (even while prices were going up!). You can see in other years that we have had a strong seller’s market, but not a bubble.

Now, we are inching toward balance. What does that mean for you?

BUYERS: You don’t have an advantage where you can knock 10% off the price. But you might be able to get a concession or two —especially out of flippers.

SELLERS: Make that house look great! If you don’t want to renovate, then really make it shine for what it is. You may not get extra dollars from your investment in renovations, but you will probably keep yourself from losing some Benjamins. 

Also, from now until early June is the high season. Sell now if you are going to sell this year!

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