Housing Market Trends
Housing market is starting to thaw this spring as homebuying picks up, inventory increases, and buyers have more options. Mortgage rates are high but experts see a 'new normal' with limited inventory and steady demand. Buyers have more leverage, can take time in the process and may benefit from tepid home price appreciation.
Key Points
- Limited housing inventory and low rates have put the housing market on ice in recent years
- Experts see a 'new normal' with scarce inventory but steady demand
- Buyers may have more leverage this year and benefit from slower home price appreciation
Pros
- Homebuying is picking up
- Inventory of unsold homes is increasing
- Buyers have more options
Cons
- Mortgage rates are high
- Limited housing inventory