Just like with our clocks this weekend, in much of the country, the housing market will soon “spring forward!” Similar to the tension in a spring, the lack of inventory available for sale has been holding back the market.
However, demand for housing has remained strong as mortgage rates have remained near historic 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 market to secure a lower rate.
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 areas of the country impacted by arctic conditions. That hasn’t happened this year.
The National Association of Realtors (NAR) recently reported that in 2018 the top 10 dates sellers listed their homes all fell in April, May, or June.
If your plans for 2019 include purchasing a home, visit us at
www.hfamiami.com/homebuyers to learn about our first-time home buyers’
mortgage, low interest rates and down payment assistance programs.
Note, information in this post was derived from Keeping Current Matters.