What Are Experts Saying About The Spring Housing Market

If you’re gearing up for a move, staying abreast of real estate market trends is crucial. Keep an eye on inventory levels, as they can affect the availability and pricing of homes. Additionally, monitor price trends to make informed decisions about buying or selling. Keep tabs on mortgage rates as well, as they can impact affordability. Remember, market conditions can vary by location, so understanding local dynamics is key. Seeking guidance from real estate professionals can provide valuable insights tailored to your needs and circumstances.

Odeta Kushi, Deputy Chief Economist, First American:

“it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”

Lisa Sturdevant, Chief Economist, Bright MLS:

“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”

Danielle Hale, Chief Economist, Realtor.com:

Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still

Skylar Olsen,Chief Economist, Zillow:

“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses.Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.”

Jiayi Xu, Economist, Realtor.com:

“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”