Mortgage News

Rates, inventory going up – the spring housing market could be interesting

Rates, inventory going up – the spring housing market could be interesting. While the number of homes sold decreased, the January median price soared 20 percent to $345,000. January is typically the slowest month for home sales, so the median price of those homes sold can vary more widely compared to later in the year.

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The economic conditions and buying power of homebuyers previously on the fence could make this a summer to remember in the Los Angeles housing market. The greater LA housing market jumped in March as single family sales rose 37% and prices were up 2.4% over February. LA homes are actually $12000 above and condos are up $6500 what they were.

The shortage of homes in the mainstream market has caused prices to go up. But even if more inventory comes on to the market, it could take multiple years for a housing shortage to become a.

While housing inventory isn’t growing, it isn’t contracting like it had been going back to 2015. it’s evident that the quick run-up in mortgage rates earlier this spring has had somewhat of a.

Rates, inventory going up – the spring housing market could be interesting. but it could be leading to a busy spring season. local real estate agents sold 217 houses and condominiums last month, slightly off the pace of 224 sold in January 2017, according to data from the Northwest Multiple.

That could further drag down inventory – meaning fewer homes on the market for you, and more competition for what’s left. On top of that, a provision in the GOP tax bill would force homeowners to live in their homes longer if they want to sell it without paying a lot of extra capital gains taxes.

Here's what experts predict will happen in 2019 real estate market:. Millennial move-up buyers will have more options in the mid-to upper-tier price point and will. This graphic shows housing inventory predictions for 2019.. and investors interact with each other and the properties they are interested in.

The optimism swirling around the spring real estate market is almost palpable. While the ground made up by the housing sector last year was encouraging, those familiar with the industry remain excited on several different levels for what this spring has in store.

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