Springtime—A Blooming Housing Market

By
Real Estate Agent with Bozeman Broker Group

 

Home inventory is reaching its lowest point since 1999. This is stabilizing home prices in many markets, and since buyer traffic is continuing to pick up, multiple offers and bidding wars are going to become the common state of things. Many sellers still remain underwater while buyers are ready to buy, causing the housing inventory to continuously shrink. Currently, there is a 4.2-month supply of existing homes for sale, down from January’s 4.5-month supply, according to data from NAR.

Blooming Housing Market

“Buyer traffic is continuing to pick up, while seller traffic is holding steady," Lawrence Yun, the National Association of REALTORS®’ chief economist says. "In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We've transitioned into a seller's market in much of the country."

Buyers and sellers alike are finding themselves in better positions then they found themselves at last year at this time. Price gains are being counter-balanced by low mortgage rates, and it is shifting to a seller’s market…. But it is not all good news.

Unemployment remains high. Recession threats still loom at large. As you read the articles on the heating up of the housing market, just keep the larger picture in mind too. We are still far from normal.

Read More

Seller's Market Developing in Much of the U.S.
25 Quick, Cheap, and Easy Home Sale Tips

 Will housing market's revival last?

Housing heats up, but far from normal

 

 

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Topic:
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Montana
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sellers market
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bozeman real estate
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Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL

Yes we are far from normal but it is good to have some positive news in the real estate market. Thanks for sharing have a great afternoon.

Mar 13, 2013 02:05 PM #1
Rainmaker
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Bob Baesmann
DFW Team Realty - Allen, TX
DFW Team Realty | 972-978-8800

Great information on the local market.

Thanks for sharing this very useful data about the housing sales in your area!

Mar 13, 2013 04:48 PM #2
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Tim Hart

Thanks Pat and Bob - appreciate the comments.   Tim H.

Mar 14, 2013 09:11 AM #3
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Tim Hart

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