There is very good news for home sellers. Pending home sales have continued to increase month over month and year over year and is at the highest since June 2013. However, despite the rise in the number of sales, demand is still exceeding supply in many areas. We are seeing home buyers having to act very quickly to get a contract on an available home. Because of the fast pace of sales, sales prices are also up across the country and especially in the South.

At the same time, new construction numbers have begun to pick up steam. Across the nation new construction is at the highest it has been since 2007. In the South specifically is up almost 10% year over year. New construction will eventually help satisfy the demand from the buyers.

Until then, buyers will have to fight over the new and existing homes that are on the market this spring. And although interest rates had a quick increase this month, they are still generally below 4% which is fantastic for buyers!

The bottom line is- if you have been considering selling your home, now is a great time with demand high and interest rates still under 4% for the buyers!