What Are the Experts Saying About the Spring Housing Market?
April 25, 2023
As a real estate expert, I can inform you that the housing market has recently experienced significant changes, leading to uncertainty about what to expect this spring. You might be curious about the likelihood of an increase in the number of homes available for sale, the direction of home prices and mortgage rates, and the most appropriate course of action for your current circumstances.
I can inform you that the housing market in Parker, Colorado, is expected to follow the general trend of the broader market. This spring, we may see an increase in the number of homes listed for sale, as well as continued competition among buyers, leading to a potential rise in home prices. However, the direction of mortgage rates remains uncertain, which could impact market activity. As always, it’s essential to work with a trusted real estate professional who can provide up-to-date information and guidance specific to your situation.
As the real estate expert familiar with Parker, Colorado, I can also inform you that the area is still experiencing a seller’s market, and this trend is likely to continue for the foreseeable future. This means that there are more buyers than available homes, leading to higher demand and potentially higher prices for sellers. However, as mentioned earlier, mortgage rates are unpredictable, and changes in the broader economy could impact the local housing market. It’s crucial to work with a knowledgeable real estate professional to navigate this dynamic market successfully.
Here’s what industry experts are saying right now about the spring housing market and what it means for you:
Selma Hepp, Chief Economist, CoreLogic:
“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.”
Greg McBride, Chief Financial Analyst, Bankrate:
“I don’t expect big moves in prices in the span of a month, but like the flower buds of spring, the housing market is showing signs of improvement. A pick up in activity with inventory still low does bode well for home prices.”
Rick Sharga, Founder and CEO, CJ Patrick Company:
“If you can find a home you love and can afford at today’s prices, don’t wait. Home prices in most of the country are unlikely to crash, and mortgage rates will only come down very gradually if they decline at all this year.”
Jeff Tucker, Senior Economist, Zillow:
“The market is still much friendlier this spring for buyers who can overcome affordability hurdles, but buyers are going to see more competition than they might expect because there are not many homes on the market to go around. New listings are increasing, which they almost always do this time of year, but not nearly as quickly as usual.”
Bottom Line
If you’re thinking about selling your house, this spring’s a great time to do so while inventory is still so low. And if you’re in a good position to buy, lean on your team of expert advisors for the best advice. Whatever your plans, let’s connect to make sure you’re able to navigate the spring housing market with confidence.
Real estate pro Brian Chandler of RE/MAX Alliance Group is a top producer and sales trainer located in the Parker, Colorado, area. Whether you’re buying or selling, team up with Brian today! 720.808.1007 Read more articles like these Top Realtor Info Contact Brian Chandler
