Spring Selling Season Off To Promising Start

Picture of HouseIn 2013, home prices rose significantly but the number of homes on the market did not. This year, most industry analysts believe that home prices will continue to rise, but at a slower pace. The expected slowdown is due to the fact that as home prices increase, homeowners who have been reluctant to sell, will gain confidence in the housing market and begin putting their homes up for sale, boosting inventory and moderating the sharp price gains seen last year. This moderation will have a stabilizing effect on housing and will make for a much less volatile market this year. Until now, there hasn’t been data to support the predicted boost in for-sale inventory but new numbers from Realtor.com’s National Housing Trend Report show that the spring selling season is off to a promising start, with inventory up 10 percent over last year. This indicates that more homeowners have decided that now is the time to sell. Steve Berkowitz, CEO of Move Inc., said seller confidence is the factor to watch and that these are very encouraging indicators. According to Berkowitz, these figures indicate a continued reinforcement of the gains and market stabilization that began late last summer. More here and here.

Michael Rosenbaum

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