The latest RE/MAX National Housing report, Housing Stabilizing With Continued Growth, sheds some light on the latest market trends. The report is a comprehensive monthly snapshot of the current state of housing across 52 metropolitan areas around the U.S. Here's what the latest report could mean for buyers and sellers.
Buyers: Low inventory continues to be an issue for buyers, but as prices rise, homeowners will become more confident with the idea of selling, which will increase the inventory. If you are considering buying in the near future, you can keep ahead of other buyers by getting pre-approved for a loan, so you are ready when the right property comes along.
Sellers: Because of the low inventory and cheaper mortgages, it’s still a seller’s market, giving you the upper hand in negotiations. Prices are expected to remain higher due to increased demand and low inventory, and homes are selling rapidly, particularly compared to the same time last year.
Whether you’re a buyer or seller, keep in mind that all real estate is local. For more information on your local market, find a RE/MAX agent who is ready to help you find your perfect fit.