Real Estate Market sluggish- Get an early jump on moving for spring and summer

Statistics released so far this year have shown signs of a sluggish real estate market in most parts of the country. 


Last week, NAR released a summary of existing home sales data showing that existing home sales declined again for the sixth time in seven months. February showed a decrease in sales of 0.4% from last month and 7.1% from a year ago. While home sale prices were up and many markets, the inventory of existing homes on the market has risen in the past several months with a 5+ month supply. 

Poor weather conditions, restrictive lending policies, and housing affordability have all put a damper on the market activity this year.  The median fixed rate mortgage rate is up almost 1% since the same time last year as reported by Freddie Mac. 

Lets hope the change of seasons (if it ever comes) will help in improving the market. 

Now is a good time to get a jump on moving if you plan to do so later this spring or summer.  With the slower market so far this year, anticipate a sudden upsurge in people looking to move as the pent up demand starts to come out.