Categorized | Residential

Housing Outlook Grows Stronger for the Spring

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Many economists are expecting this spring’s home-selling season to be the strongest that the United States has seen in years. There is now even talk that it could serve as the springboard for a true recovery in the market.

 

The spring home-selling season started early this year due to warmer weather across the United States. It typically runs from March to June. Home sales already increased almost ten percent from one year earlier during the month of February, and economists are expecting a similar increase for the month of March.

 

Realtors across the country are certainly seeing an increase in demand and consumer interest in the housing market, which is providing a boost of confidence in the market as a whole. Some realtors such as Coldwell Banker are reporting increases of nearly fifty percent compared to last year in the amount of traffic that their website is receiving.

 

With home sales increasing, and general consumer interest and confidence improving, economists believe that this spring’s home selling season may be the strongest that the country has seen in years. With that said, there will be markets that exhibit stronger increases than others. Certain cities like Phoenix, which has seen a forty-two percent drop in inventory supply, will post strong increases this year.

 

The country as a whole will likely see a minimal drop in pricing in 2012, with 2013 marking the first year of true positive growth since the housing boom.

 

The positive news about the residential real estate market has prompted some homeowners to finally list their home for sale. While others still remain hesitant, listings were up in the month of February.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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