As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling real estate. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and rate increases — the housing market seems to be relatively immune.
There are three things that seem certain going into the spring housing market:
- Mortgage rates will continue to rise
- The selection of homes available for sale will modestly improve
- Home prices will continue to appreciate, just at a slightly slower pace
If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.