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What Are Experts Saying About the Spring Housing Market?

As we dive into the spring season, many prospective homebuyers and sellers are curious about what to expect in the housing market. With insights from leading economists and real estate experts, here’s a comprehensive overview of what the spring housing market has in store.

Odeta Kushi, Deputy Chief Economist, First American: According to Kushi, there’s anticipation of a slight uptick in inventory for the spring season. However, it’s unlikely to fully meet the ongoing demand from eager buyers.

Lisa Sturtevant, Chief Economist, Bright MLS: Sturtevant highlights the sustained demand in the market, especially from the large millennial demographic entering prime homebuying age.

Danielle Hale, Chief Economist, Hale sees the current market as favorable for both buyers and sellers. While price increases are moderating, they still remain relatively high, presenting opportunities for sellers. However, slowing price growth benefits buyers.

Skylar Olsen, Chief Economist, Zillow: Olsen notes a slight increase in homes for sale compared to the previous year. Despite this, well-priced listings continue to attract substantial competition, with homes going pending in record time.

Jiayi Xu, Economist, Xu emphasizes the availability of more affordable homes in the market, particularly in the $200,000 to $350,000 price range. This offers prospective buyers a wider range of options compared to last year.

What Does This Mean for Buyers and Sellers?

For sellers, the limited inventory presents a prime opportunity to list their homes, as demand continues to outpace supply. Homes are selling quickly, making it an advantageous time to enter the market.

Buyers can expect a slightly more favorable landscape with increased inventory. However, competition remains stiff, necessitating swift action when finding a desirable property.

Bottom Line: Whether you’re considering buying or selling, navigating the spring housing market requires informed decision-making and expert guidance. Partner with us to make the most of the opportunities available in this dynamic market.

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