Insights from Experts on the Spring Housing Market
Curious about what the spring housing market has in store for buyers and sellers? Here's a roundup of insights from industry professionals to guide your next move:
Odeta Kushi, Deputy Chief Economist at First American, anticipates a potential uptick in inventory this spring, though it may not fully meet the high demand.
Lisa Sturtevant, Chief Economist at Bright MLS, highlights the persistent demand driven by the sizable millennial population entering the first-time homebuyer market.
Danielle Hale, Chief Economist at Realtor.com, notes the current balance in the market, with slowing price increases benefiting buyers while still maintaining high prices for sellers.
Skylar Olsen, Chief Economist at Zillow, emphasizes the importance of preparation for both buyers and sellers due to continued competition and rapidly shrinking time on the market.
Jiayi Xu, Economist at Realtor.com, suggests that while mortgage rates remain elevated, potential buyers may find more affordable options in certain price ranges compared to last year.
For sellers, the limited inventory makes this spring an opportune time to list, as homes continue to sell quickly despite the rising inventory. Conversely, buyers can expect a wider selection of homes compared to the previous year but should be prepared to act swiftly due to heightened competition.
In Conclusion
Whether you're considering buying or selling, partnering with a knowledgeable real estate professional can provide invaluable support in navigating the dynamic spring housing market with confidence. Let's collaborate to achieve your goals in this bustling real estate season.