The Housing Market Will Spring Forward This Year!

Just like our clocks this weekend, in the majority of thecountry, the housing market will soon “springforward!” Similar to tension in a spring,the lack of inventory available forsale has been holding back the market.

Many potential sellers believe that waiting until Spring is intheir best interest. Traditionally, they would have been right.

Buyer demand has seasonality to it. Usually, this falls off inthe winter months, especially in areas of the country impacted byarctic conditions.

That hasn’t happened this year.

Demand for housing has remained strong as mortgage rates have remained nearhistoric 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 marketto secure a lower rate.

The National Association ofRealtors (NAR) recently reported that in 2018the top 10 dates sellers listed theirhomes all fell in April, May, or June.

Those who act quickly and list now, before a flood ofincreased competition, will benefit from additionalexposure to buyers.

Bottom Line

If you are planning on selling your home in 2019, meet with alocal real estate professional to evaluate the opportunities inyour market.