Here is a post about the housing recovery. The latest market report that came out in April showed that home sales are making a huge statement this spring. The amount of under contracts in the KC metro area will almost bring the market back to a sellers advantage at the end of May.
Economists stated in a recent article at USA Today that the way the real estate market charge in the coming spring home-selling season will definitely be test a test for housing demand. It will also prove which markets will take the lead for housing recovery.
According to Steven Ricchiuto, chief economist for Mizuho Securities USA, “This spring will be the litmus real estate test for housing demand.” The slow-moving housing market in recent years has been creeping toward a change in direction in the past few weeks. According to February housing data by the National Association of REALTORS®, a 9% increase in existing-home sales and pending home sales in contrast to the figures of the same time year ago.
In a statement made by in USA Today, Paul Dales said that he anticipates the spring selling season to “be the best in four or five years” for the industry of real estate.
The place where the supply of for-sale homes has plummet the most and is more balanced, is where rates have the greatest possibility of boosting this year. For an instance, despite Phoenix’s 42% drop in its housing inventory recently, the state is expected to experience a 5% gain this year, according to Eric Fox, an economist for Veros Real Estate Solutions.