A number of factors have experts and industry insiders expecting a strong spring-selling season this year. Nearly half of all home sales happen during the months of April, May, June, and July and this year, with the economy and job market showing signs of growth, the sales season is expected to be better than it has been in years. Among the main reason spring and summer are good for home sales is weather. And, this year, mild weather has enveloped much of the country earlier than usual. For instance, the Midwest, which saw warmer than usual weather so far this year, saw a 6.5 percent increase in signed contracts in February and a 19 percent jump year-over-year. Among the other factors playing a role in the optimistic outlook, inventory has been clearing from the market and is now at a five-year low, which means less competition for sellers. Also, foreclosures, which were tied up by paperwork and procedure problems, are increasingly hitting the market and, as they’re sold, will release downward pressure on prices. All of these factors, combined with historically low rates and high affordability, should mean a stronger-than-usual spring for the housing market. More here.
