Given the scant listings, another competitive spring buying season is likely. Last month, there was a smaller supply of homes for sale than a year earlier in every Southern California county, data from the California Association of Realtors show. Real estate agents say the shortage has people crowding open houses.
As sunlit days get longer going into early spring, consumer confidence is still coming out of the shadows as the dull numbers in existing home sales for February don’t have experts fried. In fact, according to Housingwire.com, “Experts predict the combination of pent-up housing demand and historically high consumer confidence will increase existing home sales in the months ahead.” Locally, in sunny Southern California, a hike in home prices resulted in what the Los Angeles Times is hailing, “the largest increase in more than a year, as buyers rushed to outbid one another for a meager selection of homes for sale.” Yet, although the umbrella of high home prices is upon us at home, the housing forecast is currently clear of showers as, with a vibrant outlook, experts like Svenja Gudell, chief economist for Zillow, maintains, “It’s important not to read too deeply into the one-month dip in existing home sales in February; the housing market is still running quite hot, and the next few months look to be as competitive and fast-moving as ever.”
On a broader spectrum, the Wall Street Journal sheds light on the glaring issue of new home sales by stating, "In a sign that builders are responding to demand, the number of homes for sale at the end of February rose to the highest level since July 2009." Nationally, defying all gloomy expectations, "U.S. new home sales increased sharply for the second consecutive month in February, an indication that growing demand and a pickup in construction activity could propel a strong spring selling season for this segment of the market," clarifies real estate reporter, Laura Kusisto. And, as temperatures rise, "Economists expect new-home sales to continue to increase this year as builders step up construction of single-family homes and more first-time buyers enter the starter-home market," as the Wall Street Journal connects the rosy housing outlook to such conditions as a "strengthening economy and unseasonably warm weather". Even though the hazy days of winter hold on tight, the near future for housing is certainly looking bright. Courtesy of JMJ Financial Group
On a broader spectrum, the Wall Street Journal sheds light on the glaring issue of new home sales by stating, "In a sign that builders are responding to demand, the number of homes for sale at the end of February rose to the highest level since July 2009." Nationally, defying all gloomy expectations, "U.S. new home sales increased sharply for the second consecutive month in February, an indication that growing demand and a pickup in construction activity could propel a strong spring selling season for this segment of the market," clarifies real estate reporter, Laura Kusisto. And, as temperatures rise, "Economists expect new-home sales to continue to increase this year as builders step up construction of single-family homes and more first-time buyers enter the starter-home market," as the Wall Street Journal connects the rosy housing outlook to such conditions as a "strengthening economy and unseasonably warm weather". Even though the hazy days of winter hold on tight, the near future for housing is certainly looking bright. Courtesy of JMJ Financial Group
Todd Burns - NMLS 254981
JMJ Financial Group
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