Categorized | Residential

United States Housing Market Enjoys a Fruitful Spring

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The spring season has been a positive one for the residential real estate market. With record-low mortgage rates, and bargain prices on most properties, buying a home is starting to look like a more attractive, and incredibly affordable option for investors, couples, and families.

In fact, many economists believe that the current spring season will likely be the strongest that the market has seen since crashing five to six years ago. An improving housing market is very good news for the economy as a whole. As home sales increase, sales and profits in other industries will as well. With the residential property market in its most affordable state ever, it should come as no surprise that first-time homebuyers have been making a serious push to enter the market.

Home sales are up by more than ten percent in many areas of the country, and are expected to significantly outpace expectations for the remainder of the year. Many realtors are reporting that each home listed for sale is receiving multiple bids, which are driving the prices upward. For the first time in years, demand is exceeding supply.

While the market is certainly showing promising signs of health, the market is still far off where it was during the peak of the housing bubble. Home prices are still less than half of what they were during those peak months.

Even though the market still hasn’t reached its peak state, there is much to be excited about regarding its health. The fact that inventory levels are recovering across the nation is a good indication that the improvement will continue for months to come.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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