Spring is in full swing, and the housing market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your move.
1. There Are More Homes for Sale
After a long stretch of tight inventory, the number of homes for sale is finally improving. According to recent national data from Realtor.com, active listings are up 27.5% compared to this time last year.
Buyers: This means you have more choices, and you can be more selective.
Sellers: With more homes available than in recent years, you’re more likely to find what you’re looking for when you move. And knowing that inventory is still below more normal levels means there will be demand for your home when you sell it, too.
2. Home Price Growth Is Moderating
As inventory grows, the pace of home price growth is slowing down – and that will continue into the spring market. This is because prices are driven by supply and demand. When there are more homes for sale, buyers have more options, so there’s less competition for each house.
Buyers: The slower pace of growth means prices aren’t rising as quickly as before – and that’s a relief. Any home you buy now is likely to appreciate in value over time, helping you build equity.
Sellers: While prices are still rising, you might need to adjust your expectations. Overpricing your house in a more balanced market could mean it takes longer to sell. Pricing your house competitively is going to be key to attracting offers.
3. Mortgage Rates Are Stabilizing
One of the biggest hurdles for buyers over the past couple of years has been high, volatile mortgage rates. But there’s some good news – overall, they’ve stabilized in recent weeks – and have even declined a bit since the beginning of this year.
Buyers: When mortgage rates are more stable, it’s easier to plan ahead because you have a better idea of what your future payment might be.
Sellers: Slightly lower rates that are starting to stabilize are encouraging more buyers to move forward with their plans. That’s good for demand when you’re planning to sell your house.
4. More Buyers Are Returning
With more inventory, slowing price growth, and stabilizing mortgage rates, buyers are gaining confidence and coming back into the market.
Buyers: Acting sooner rather than later could be a smart move before your competition heats up even more.
Sellers: This is great news for you – more buyers mean a better chance of selling your house quickly.
Bottom Line
Whether you're looking to buy or sell, this spring presents promising opportunities in the housing market. With rising inventory, moderating prices, and stabilizing rates, now might be the right time to make your move. Connect with a local real estate agent to explore your options and create a winning strategy.
