According to a recent article posted by CNBC, the shortage of homes available is pushing the spring market forward. Historically, the spring market is usually the busiest time of year for homebuying, but numbers are showing otherwise, with expectations of January being a very strong month in listing views on realtor.com.
Also according to realtor.com, the supply of entry level homes in November of 2019 was a staggering 16.5% lower than entry level homes available in November 2018. The lower housing inventory is only increasing demand, with many homebuyers going after the house of their dreams now instead of waiting until spring.
If you are thinking of purchasing a home, but planning of holding out until spring, you may want to reconsider. Apparently this year, the spring market is already here and now is the time to get approved and start searching for your new home.
For the full article, please follow this link: https://www.msn.com/en-us/money/realestate/competition-for-housing-is-so-high-the-spring-market-is-starting-now/ar-BBYyj7o
Source: Olick, D. (2020, January 1). Competition for housing is so high, the spring market is starting now.