as more homes come on the market for this traditionally popular sales
season, they're flying off fast, with bidding wars par for the course.
Home prices have now surpassed their last peak, and at the entry level,
where demand is highest, sellers are firmly in the driver's seat.”
early returns so far this spring buying season look very promising as a
rising number of households dipped their toes into the market and were
successfully able to close on a home last month. Although finding
available properties to buy continues to be a strenuous task for many
buyers, there was enough of a monthly increase in listings…for sales to
muster a strong gain. Sales will go up as long as inventory does."
higher mortgage rates, the potential for home sales increased on an
annual basis driven by steady income and job growth, along with a surge
in building permits. While it may be a little late for this spring, the
increase in building permits is a welcome sign that some relief may be
in sight for the inventory shortages that are holding back many markets
from realizing their full potential this spring.”