Friday, April 26, 2024

Spring Season is Here

This is that time of year where activity perks up in real estate. New listings will come online at a faster clip. Buyers will start 'kicking tires' and looking at homes. This can be a good opportunity for sellers to get out in front of the market surge the may be coming as we progress deeper into spring. 

Our local market tends to see a 20-25% bump in activity during the spring and summer months usually starting in April or May. The current situation with mortgage rates is such that buyers are starting to make the adjustments to the current rates. We have been pretty stable on rates since the big hike in 2021. Buyers will adapt, banks will adapt, sales will occur. 

For buyers banks are already creating opportunities for buyers. Buyers can be optimistic about the sales cycle this years as prices are holding steady. Banks are trying to create opportunity. Seller's are more motivated.

It could be a good year after all.

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