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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