If you’re gearing up to enter the housing market this spring, you’re likely curious about the trends and dynamics that will shape your buying or selling experience. Here’s a roundup of insights from industry experts:
Odeta Kushi, Deputy Chief Economist, First American: Expect a pickup in inventory this spring, but it may not fully meet demand.
Lisa Sturtevant, Chief Economist, Bright MLS: Strong demand persists, especially among millennials entering the first-time homebuyer phase.
Danielle Hale, Chief Economist, Realtor.com: The current market offers a balance: Price increases are slowing, benefiting buyers, while prices remain high, advantageous for sellers.
Skylar Olsen, Chief Economist, Zillow: Although there are slightly more homes for sale compared to last year, competition remains fierce for well-priced properties. Buyers and sellers should prepare accordingly.
Jiayi Xu, Economist, Realtor.com: While mortgage rates are up, buyers may find more affordable homes in the mid-price range this spring, with a notable increase in listings compared to last year.
For Sellers: This spring presents an opportune time to sell due to limited inventory and high demand. Homes are selling quickly, making it a favorable market for sellers.
For Buyers: Increased inventory means more choices, but competition remains stiff. Be prepared to act swiftly when you find the right property.
Bottom Line: Regardless of your plans, partnering with a local real estate agent can provide invaluable guidance and support in navigating the dynamic spring housing market. Whether you’re buying or selling, having a knowledgeable professional by your side can help you make informed decisions and achieve your goals effectively.
