Is Housing Market Ready to Rebound?admin / 0 Comments /
Homeowners trying to or thinking about putting their home on the market may have been a little hesitant based on the trends in the real estate market over the past year. As real estate professionals know, and homeowners may have noticed, the real estate market took a turn last summer. An increased number of homes hit the market, but higher prices and decreased sales, the outlook for homeowners was less than ideal.
However, homeowners may be able to breathe a sigh of relief as this slump could be coming to an end. With mortgage rates dipping below 4 percent and a slowed housing inventory, it appears prices and home sales should begin to climb again.
According to an article published on Realtor.com, written by Clare Trapasso, “…much of the fate of the housing market relies on mortgage interest rates. If they stay low, buyers have more money to spend on homes. So prices have more room to rise.” However, homeowners should be aware, despite a high demand for homes as younger buyers begin their families and look to settle down, current buyers, Chief Economist Danielle Hale of realtor.com® warns “seem a little more patient. They’re more willing to wait for a good property.”
Read the entire article.