Charleston WV Housing Market Heats Up

CHARLESTON, W.Va. - April 14, 2015 - PRLog -- Real Estate Agents from Charleston to Huntington are gearing up for what promises to be an exciting buying and selling season.

In the first quarter of 2015, and we’re seeing a solid foundation laid for a seller’s market in the Kanawha Valley area.

We are currently seeing an increase in the new construction of single and multi-family homes in Kanawha, Putnam and Cabell counties.  We predict this continuing through the end of 2015, unless a change in economic conditions occurs.

Low interest rates, low down payments and home price increases are make up a few of the building blocks constructing the potential for a busy spring and summer for real estate agents and the home sellers and buyers they serve.

The inventory of existing homes on the market appears to be dropping, and if this continues, we expect to see price increases throughout our area.

Sellers should consider listing homes with local real estate offices to take advantage of the potential for higher home values.

According to Fannie Mae’s March 2015 National Housing Survey, 46 percent ( which is an all-time survey high) of those interviewed believe now is a good time to sell.

And guess what local market is ranked in the top 10 best in the nation.  Charleston WV.

According to Realtor.com, Charleston is expected to be a strong market to watch this Spring and Summer.  It's currently ranked #9 on a list with the likes of the major cities of New Orleans, Boston and Pittsburgh.

“These markets should see plenty of activity in the next few months as the home buying season gets underway,” said Realtor.com Chief Economist Jonathan Smoke.

Smoke added, housing demand is surging and median list prices are rising faster.

“We are now firmly in the time of the year when peak demand and peak inventory levels typically occur, through spring and early summer,” he said. “Buyers should expect substantial competition, especially in the hottest markets, and for affordably priced homes within most markets.”

Combine this good news with Interest rates for 30-year mortgages hovering at 3.5-4 percent and most banks and credit unions advertising down payments of 3.5 percent or less for these in-demand loans, and you've got something grand.

If home prices continue to rise, an investment now could turn into a big return over time.

Spring’s finally here and so are all the ingredients for a great housing market.  What are you waiting for?

Visit River Valley Properties, llc. to learn more about the housing options available in the area. Visit: http://www.rivervalleyllc.com for details.