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Home Buying Competition Expected This Spring


Experts and economists are predicting a competitive upcoming home buying season, due to short inventory. 

The larget inventory drops where in Phoenix, San Diego, and San Jose, CA. however, sellers assets list price has increased on an average of 3.9%.

Homebuyers are in luck since the 30-year-fixed mortgage rates have dropped to its lowest point in 50 years earlier this week, meaning that it is easier for them to purchase housing in this market. 

Finding a home can currently be hard for homebuyers because inventories remain low, and list prices are increasing. On another hand, the new construction is selling fast which will help to supply the unsatisfied U.S demand.

In 92% of the country housing prices increased as expected. Last month selling prices got higher by an average of 6.5% in comparison from a year ago. See the following table with the greatest declines in inventory, median listing price increase, and median listing price on a metro level.