Industry Experts Share Insights on the Spring Housing Market Trends

 As we head into the spring season, the housing market is abuzz with anticipation and uncertainty. What can homeowners and potential buyers expect in terms of market trends, home prices, and mortgage rates? To shed light on these questions, we turn to industry experts for their insights and recommendations. Let's dive into what these experts have to say about the spring housing market and how it may impact you.

According to Selma Hepp, Chief Economist at CoreLogic, there is increasing competition among buyers in the current housing market. Additionally, the spring season typically sees a growth in housing supply, as more people graduate and relocate in search of employment opportunities. This may result in a larger inventory of homes on the market, providing more options for potential buyers.

Greg McBride, Chief Financial Analyst at Bankrate, notes that while he doesn't expect significant price fluctuations in a month's span, the housing market is showing signs of improvement, much like the budding flowers of spring. The uptick in activity, coupled with a relatively low inventory of homes, may contribute to an increase in home prices.

Rick Sharga, Founder, and CEO of CJ Patrick Company, advises potential buyers not to wait if they find a home they love and can afford at current prices. He believes that home prices in most areas of the country are unlikely to crash and that mortgage rates are expected to decline gradually, if at all, throughout the year. This suggests that waiting may not result in significant cost savings, and buyers should act sooner rather than later.

Jeff Tucker, Senior Economist at Zillow, explains that while the market may be more favorable for buyers this spring in terms of affordability, they may encounter more competition than expected due to the limited availability of homes on the market. While new listings typically increase during the spring season, the rate of increase may be slower than usual, further exacerbating the shortage of available homes.

Bottom Line

In conclusion, if you are considering selling your house, the current spring season presents a favorable opportunity due to the low inventory of homes. On the other hand, if you are in a position to buy, it is crucial to work closely with a team of expert advisors to navigate the competitive market. Collaborating with a trusted real estate agent can provide valuable guidance and ensure a confident approach to the spring housing market. Don't miss out on the opportunities this season may present, whether you are looking to buy or sell a home.

To learn more about the Prescott, Arizona real estate market contact Michael Eastwood CEO of West USA Realty of Prescott at 928-636-1500 or visit us at www.westusaofprescott.com Michael will introduce you to one of his professional real estate agents.(Each office is Independently owned and operated) #Prescottrealestate #Prescotthomes #Prescottland #Prescottvalleyrealestate #Prescottvalleyhomes #Prescottvalleyland #Chinovalleyrealestate #Chinovalleyhomes #Chinovalleyland #Arizonarealestate #Arizonahomes #realestate #homes #prescott #chinovalley #Prescottvalley #buyers