And this spring is expected to be busier than usual. Freddie Mac predicts this spring will be the strongest season since 2007. Home sales and home prices have been heating up since February; and the Equifax Finance Blog real estate experts are sharing their top three real estate trends for home buyers and sellers to keep in mind in the recent article, “
Home prices are increasing. In the past year, prices have risen 8 percent. This is good news for sellers; but buyers should worry about prices getting too high too fast. Prices will likely rise and fall, fluctuating with market changes, over the next year or so.
Inventories are limited. This too is good news for sellers, who will have less competition, but not the best news for buyers who may have to look harder and longer for the perfect home; or may have to consider renovations on a close-enough home to get it just right. March 2013 inventories were down 15 percent from last March, according to Realtor.com.
Interest rates remain low. This is great news for buyers, keeping home prices affordable. It’s also good news for investors, and the article cautions that an investor-driven market is shaky, and could be a rockier recovery than many are expecting.
Read the full article and get more real estate tips at the Equifax Finance blog, where you can also get expert advice on credit,
credit ratings, identity theft information, retirement and more.