Housing Market Showing Signs of Recovery for Spring Season
It has been almost six years since the bubble burst on the U.S. housing market sending the entire country into the worst economic crisis since the great depression. Most home purchases are made in the spring. This is because it coincides with when kids are getting out of school and have to go back to school in the fall. Most families want to be in their new homes and registered with their new school districts before the school year starts. So the prime buying time is from late April to late July. Statistics are showing that this particular spring season is looking like it will be the strongest in the six years since the market crash.
May year-to-year comparisons between 2011 and 2012 show that sales are up over 10% from a year ago and are predicted to be up by as much as 13% by year’s end according to the National Association of Realtors. Many cities which saw a severe market correction are showing signs of stabilization and many others are showing signs of market growth. Realtors in certain sectors are reporting bidding wars are back for many prime locations and neighborhoods and buyers are no longer sitting on the fence waiting for the market to bottom out. The feeling across the country is the worst of the crisis is over and people who have been waiting on the sidelines to make a purchase are now buying up homes more quickly than even a few months ago.
Don’t miss this excitiing time to buy your next home. Visit my website and sign up to receive a custom evaluation including comparisons to other homes that have recently sold or are on the market.