At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would
The Housing Market Will "Spring Forward" This Year!
Dated: March 11 2019
Just like our clocks this weekend, in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale has been holding back the market. Many potential sellers believe that waiting until Spring is in their best interest. Traditionally, they would have been right. Buyer demand has seasonality to it. Usually, this falls off in the winter months, especially in areas of the country impacted by arctic conditions.
That hasn’t happened this year.
Demand for housing has remained strong as mortgage rates have remained near historic lows. Even with an increase in rates forecasted for 2019, buyers are still able to lock in an affordable monthly payment. Buyers are increasingly jumping off the fence and into the market to secure a lower rate. The National Association of Realtors (NAR) recently reported that in 2018 the top 10 dates sellers listed their homes all fell in April, May, or June. Those who act quickly and list now, before a flood of increased competition, will benefit from additional exposure to buyers.
Source: Keeping Current Matters
Ryan Ivie is Utah’s top agent with over 22 years of real estate experience. With his knowledge of the market and strong negotiating skills, he consistently gets homes sold in shorter periods of ti....