What Industry Experts are Saying About the Spring Season
May 13, 2019
While winter is almost always the slowest season for real estate, Spring tends to be one of the strongest. The weather gets nicer, days get longer, and buyers come out of hibernation in search of new homes. But after a slower than usual winter season, how are we doing so far this Spring? Let’s hear what some of the industry experts are saying:
Fannie Mae: Reports suggest that at the start of the spring home buying season, more consumers feel now is a good time to buy and sell. Their latest Home Purchase Sentiment Index surged 5.5 points to 89.8, its biggest climb since last June.
Freddie Mac Chief Economist: “Purchase mortgage application demand saw the second highest weekly increase in the last year and…overall mortgage demand rose to the highest level since the fall of 2016.”
CoreLogic Chief Economist: “We expect mortgage rates to remain low and be a boost for the spring buying season,” and that “could lead to a pickup in home price growth later this year.”
George & Laurie: Interest rates remain lower than mid-late 2018 levels, and while heating up, the market here in the SF Peninsula is not nearly as competitive as previous spring buying seasons. These factors, in addition to lots of new inventory coming on the market, make for an opportune time to buy. If you’d like to find out what kind of mortgage you qualify for, just call the RealSmart office and ask for Laurie or George! (650) 363-2808