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Will the Housing Market Bloom This Spring?

Will the Housing Market Bloom This Spring?

Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season.

Danielle Hale, Chief Economist, realtor.com:
“Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring, and last year’s extraordinarily low new listings comparison point will mean year over year gains. 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.”

Ali Wolf, Chief Economist, Zonda:
“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed. This suggests more inventory will be for sale in late 2021 and into the spring selling season in 2022.”

Freddie Mac:
“Since reaching a low point in January, mortgage rates have risen by more than 30 basis points… However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

Mark Fleming, Chief Economist, First American:
“As the housing market heads into the spring home buying season, 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.”

Bottom Line
The experts are very optimistic about the housing market right now. If you pressed pause on your real estate plans over the winter, reach out to The Butch Cazin Team to determine how you can re-engage in the homebuying process this spring.

-KeepingCurrentMatters.com

Posted in: Blog, Buyer's Tips, Buying, Homebuyer's Tips, Homeownership Tagged: Buying, home ownership, house hunting, real estate market update

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Long & Foster Real Estate
976 Foxcroft Ave
Martinsburg WV 25401
304-260-0075
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Home Sellers

We can help home sellers understand buyer expectations and establish realistic pricing for your home under the current market conditions.

Our goal is to leverage our knowledge and experience to help you get the best price the market will support while still selling your home in a reasonable period of time.

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For home buyers, our knowledge of the Eastern Panhandle Martinsburg Charles Town Hedgesville Inwood Falling Waters Ranson Bunker Hill West Virginia real estate market is second to none. We know the neighborhoods, the current market conditions, and the opportunities for buyers in today’s market. Our buyer specialists are committed to helping you find the home you want at the best possible price.

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Finding your dream home or finding a buyer is only part of the challenge of a successful transaction. There are many details that need to be managed through closing, and The Butch Cazin Team brings the depth and breadth of skills and experience required to ensure your transactions go smoothly. Our commitment is to provide you the quality of service and communication you desire and deserve. Learn More About The Butch Cazin Team
The Butch Cazin Team
Long & Foster Real Estate
976 Foxcroft Ave
Martinsburg WV 25401

M. Margie Bartles, Broker

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