fbpx
0 Items

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 Economistrealtor.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, let’s chat to determine how you can re-engage in the homebuying process this spring.

Can you Compare Buying Slippers (with arch support) to Buying a House?

Can you Compare Buying Slippers (with arch support) to Buying a House?

THE SLIPPERS
Yesterday I went to buy a new pair of slippers. I wanted slippers with good arch support.  The Barn, my go-to shoe store in Newton, was short on supply in sizes and styles. So I went on-line and found many styles and sizes were on backorder. More desirable products were priced higher.

The Washington Post reports a “pandemic of broken toes…calluses, tendonitis, and heel pain.”

The bottom line is the demand for slippers with arch support is high, supply is down, and prices are rising.


THE HOUSES
Every day, buyers are competing for houses, single-family, and condominiums. Location is a factor and the geographic range is shifting.

A Middlesex Market Review3-21 (below) illustrates the story of decreased inventory and appreciating prices.

The bottom line is the supply of houses for sale is at a historic low and prices are escalating at an unpredictable rate.


Whether you’re thinking of selling or not, you owe it to yourself to know the value of your home.

Please email me or call or text me at 617-797-9497 with your questions. I’m here for you.

Middlesex County Area Market Review
2021 vs. 202 As of March 2, 2021
Prepared by Janet Porcaro
Source: 2021 MLS Property Information Network, Inc.

READ THE FULL REPORT HERE

Top Days to List Your Home for Sale [INFOGRAPHIC]

Some Highlights:

  • ATTOM Data Solutions conducted an analysis of more than 29 million single family home and condo sales over the past eight years to determine the top days to list your home for sale.
  • The top five days to list your home brought in a 10% premium over market value and are all in either May or June!
  • “Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.”
  • There is still time to list your home before these dates pass you by!