If you thought all was lost in the housing market, you may be wrong. Freddie Mac recently released a report by their chief economist that shines a little light to the current housing market situation. So, you may be able to move into that home of your dreams even sooner than you thought!
This hopeful picture was painted just in time for the spring season, which happens to be kicking off in May with National Moving Month. Experts believe that the housing market is poised to actually take off in the near future. This comes hot on the heels of all-time low prices in January and February.
Affordability for the homebuyer is driven by low mortgage rates and low home prices, so it is still a buyer’s market. But, this may change for sellers as the economy strengthens and we see more jobs throughout the country. Looks like Freddie Mac is telling us that things are moving on up!
It is worth mentioning that the housing prices have gone so low in the last couple of years that combined with improvements in the job market and economy in general, the spring season may definitely see a move in the right direction. So, if you are considering relocation, you may get your wish very soon.
What can we expect as we observe the housing market, and hopefully jump in closer to a move? Freddie Mac experts say to watch for a good amount of sales activity in the second quarter. In fact, they say the real estate market will be up by 5% this year.