Friday, April 3, 2015

Spring trends in the housing market

Normally the housing marketing is more active in spring and that is not different this year. The market is a seller market with only 4.6 months of inventory on the market and this low inventory has the consequence that the home prices are surging.

The rising home prices are good news for the sellers but not for the investors who are looking for cheap homes that they can flip or rent. Therefore the investor numbers are declining and the normal home buyers have a greater chance to get their new home.

The rising price are also not an important thing for the buyers because it makes it harder to buy a new home even when the mortgage rates are still as low as 3.7 % for a 30 year mortgage. They have to qualify for their home loan. 

The most positive news for home buyers is the return of the Freddie Mac mortgage with only 3 % downpayment. This specific mortgage was not available for nearly 5 years.  

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