If you’re looking to buy or sell a home this spring, you’re probably curious what direction the market will take. Is it a good time to sell? Will there be more homes to choose from? How can you make the most out of today’s market?
Let’s do a quick rundown of expert opinions to see what’s in store for real estate this spring.
Odeta Kushi, Deputy Chief Economist, First American:
“It seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”
Lisa Sturtevant, Chief Economist, Bright MLS:
“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”
Danielle Hale, Chief Economist, Realtor.com:
“Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still relatively high, which is good for sellers.”
Skylar Olsen, Chief Economist, Zillow:
“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now. Attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.”
Jiayi Xu, Economist, Realtor.com:
“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”
What does all this mean for you?
Sellers: This spring is a great time to list your home, as supply is still below demand. Inventory is rising, but not nearly enough to meet demand. You’re likely to get a good price for your home, and it’s a good year to make a move!
Buyers: You’ll have more homes to choose from soon, but you’ll also have competition. Be prepared to move quickly if a house you love comes on the market!
If you have a distressed house that you need to sell to fund your purchase, consider looking for a cash buyer. It’s the fastest way to sell a house, so you’re less likely to miss out on your dream home! With a fast cash sale from MarketPro Homebuyers, you can maximize your profit and be prepared to make a strong offer.
MarketPro FAQs:
Q: Can I sell my house on my own schedule?
A: Yes! We can time your closing around your new purchase or any other life event.
Q: Can I sell my house if it needs repairs?
A: Yes! We love distressed houses and buy as-is.
Q: Can I sell my house for cash without paying commissions or fees?
A: Absolutely. That’s what we do here at MarketPro.
Work with MarketPro:
We’ll give you a fast cash offer for your current home just as it is now; no repairs, no upgrades, no inspection, no commissions or fees. You can even choose your exact closing date. Our team will walk you through your quote, including a review of what your home would likely bring on the open market.
If you’re in Washington, D.C., Maryland, Virginia, Pennsylvania, Florida or Georgia, we’d love to show you how easy and stress-free the sales process can be. Contact us today for a same-day, no-pressure quote.
