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What Are Experts Saying About the Spring Housing Market?

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”

For homeowners looking to sell their property this Spring, it’s advantageous to accelerate their selling schedule. This pre-warm weather window presents a golden opportunity for sellers as the decreased competition amplifies buyer interest in their homes. With fewer choices available, listings attract more attention, offering sellers an exceptional chance to surpass their real estate goals.

There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”

“Like spring flowers, more and more ‘For Sale’ signs will be popping up, as is typical for the springtime real estate season. And just like the adage about the early bird getting the worm, it will be the pre-approved buyer who is prepared to make a great offer that picks from the freshly bloomed inventory.

“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.

“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”

“As the spring ramps up, it seems like a perfect storm to sell with higher buyer demand, reduced competition (fewer homes on the market), and as we’ve seen in recent weeks, fewer price reductions of current inventory..”

Bottom Line

Brick & Corbett Group

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RE/MAX Bayshore Traverse City, MI

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