A recent NerdWallet survey shows a record-high 15% of people plan to buy a home this year, up from 9-11% in previous years. This signals pent-up demand returning to the market, though not at the levels seen in past housing booms. Many buyers who delayed purchasing are now ready to act, with over half already browsing homes online. With peak homebuying season approaching, sellers who properly prepare and market their homes can attract these motivated buyers.
Buyers are starting to settle into the current higher mortgage rate environment, which is part of the reason they are deciding to enter the market and make a move. Those who are looking to buy this spring should work with a trusted lender to get pre-approved, so they are ready to make an offer as soon as their dream home hits the market.
As rates improve and more buyers come to the market, you will start seeing more home price acceleration.
Source : https://bit.ly/40VUOlq
By: Jon Iacono