Spring has officially arrived, and with it comes the hottest season in real estate. Whether you’re a buyer or seller, understanding what’s happening in the market right now is crucial. Here’s what you need to know.
Mortgage Rates: Don’t Let the Wait Cost You the Right Home
For buyers, mortgage rates continue to fluctuate—and many are sitting on the sidelines hoping for a drop. But here’s the truth: waiting for the perfect rate might mean missing the perfect home. If rates improve later, refinancing is always an option. In the meantime, locking in a home now can mean starting to build equity sooner.
Sellers: Price It Right or Get Left Behind
Buyers are still active this spring, but they’re laser-focused on affordability. Overpricing your home can result in longer market times and missed opportunities. Smart pricing is essential to attract serious offers—and with demand still high, especially in popular neighborhoods, a well-priced home can sell quickly.
Inventory Is Growing, But Still Tight
We’re finally seeing more listings hit the market, giving buyers some breathing room. Still, inventory remains tight overall. This creates a classic seller’s market environment—more competition for desirable homes, but more choices for buyers compared to last year.
Home Prices: Stable With Modest Growth
No, we’re not in a bubble—and no, home prices aren’t crashing. In fact, industry experts predict a steady appreciation of 3% to 5% in 2025. Homes that are priced right and marketed well are moving fast, while overpriced ones are sitting on the shelf.
The Economy’s Role in Real Estate
A strong job market and rising wages are giving buyers more confidence, despite lingering concerns about inflation. However, the impact varies by region. High-cost states like California and New York are seeing slower growth as buyers shift their focus to more affordable southern states—where demand (and growth) is booming.