The Housing Market will “SPRING” forward this year!

Just like our clocks last weekend, the housing market will soon “spring forward!” Similar to tension in 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 the areas impacted by weather.

This 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, buyer 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 fell in April, May or June.  Those who act quickly and list now, before the flood of increased competition, will benefit form additional exposure of buyers.

If you are planning on selling your home in 2019, let’s talk to evaluate the opportunities in your market.