Report Shows Buying Conditions Are Improving

Cynthia BaileyHome Buyers, Home Sellers, Local Events, Luxury Homes, Real Estate Investing, Second Homes, Uncategorized, VA Home BuyersLeave a Comment

The National Association of Realtors most recent existing-home sales report shows sales were essentially flat in April, falling 0.4 percent from the month before.  But though flat sales to begin the spring selling season may seem like trouble, a closer look at the data shows conditions are gradually improving for home buyers and may lead to more activity. Lawrence Yun, NAR’s chief economist, says he believes the improvements will soon help spur more sales. “First, we are seeing historically low mortgage rates combined with a pent-up demand to buy, so buyers will look to take advantage of these conditions,” Yun said. “Also, job creation is improving, causing wage growth to align with home price growth, which helps affordability and will help spur more home sales.” Additionally, inventory continues to improve, with the number of homes available for sale up nearly 2 percent from last year at the same time. However, though the market is becoming more favorable for buyers, it’s still competitive. In fact, 53 percent of homes sold in April were on the market for less than a month. More here

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Cynthia Bailey

Cynthia Bailey

Leveraging my experience of service to others, my passion for real estate and degree in Interior Design I seek to provide my clients with the best possible experience in finding their perfect place or selling their unique home. I believe in representing and educating my clients so they can make the best decision possible, while also providing advice on staging and preparing their home for sale. The seller is able to highlight the beauty of their home while the buyer is able to envision their future home. I call this the “win-win” of real estate.

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