As we enter into a new season, you may be wondering if the housing market will also be in bloom this spring. This year is already varying greatly from what we experienced last year and we can all remain hopeful as we analyze the real estate market moving forward. We have the opportunity to gain insight into new housing market developments by researching what experts have been predicting in the industry this spring.
Daniell Hale, Chief Economist at realtor.com has reported:
“We expect to see new listings grow in March and April as they traditionally do heading into spring.”
“One other potential bright spot for would-be homebuyers, new construction, which has risen at a year over year pace of 20% or more for the last few months, will provide additional for-sale inventory relief.”
Mark Fleming, Chief Economist at First American has stated:
“The ongoing supply and demand imbalance all but assures more house price growth…Many find it hard to believe, but housing is actually undervalued in most markets and the gap between house-buying power and sale prices indicates there’s room for further house price growth in the months to come.”
With people becoming more certain in the economy, with more vaccines being distributed, experts are also suggesting that more inventory will be available as we progress further into 2021. We are expecting a strong spring sales season filled with growth. This will ensure that the housing market will be in bloom this spring season.
With experts remaining so hopeful about the housing market, you can remain confident about your real estate plans this year. We will remain hopeful about the housing market with new constructions and strong growth in the house price growth. Let’s connect today to learn the best way to enter the homebuying process this spring!