Bloomberg Business recently published an article on how positive things are looking heading into this year’s busy home buying season. While the article refers to the nationwide market, it is closely consistent with McCall’s market as well. In a nutshell, here is the good news:
- Previously owned home sales were up in March by the most in four years.
- Houses were on the market for less time, 52 days on average.
- Property values have appreciated.
- More job growth is driving up sales.
- First time home buyers sales were up.
- Distressed properties were down, creating a healthier mix of properties on the market.
- Mortgage applications are at highest level since June 2013.
- Increase in inventory shows sellers are confident buyers will emerge.
- More supply means better prices for buyers.
According to John Stumpf, chief executive officer at Wells Fargo & Co., the nation’s largest home lender, “Interest rates remain low, homes are affordable, consumer and small business confidence remains high, and the labor market is approaching full employment.” All of this is good news for the housing market in the nation, and in McCall. If you are thinking about buying or selling your home, now is the time to take the plunge!
