Spring is a time when real estate markets across the country pick up steam. Many homeowners will wait for the spring market to list their home and the market is often rich with buyers during this season. The Upper Valley is known for a strong and often competitive spring real estate market. This fast moving environment can be stressful for home buyers and sellers alike.
According to an article in the Washington Post, it is suspected that low inventory will be an issue facing home buyers this real estate season.
A strong job market and low mortgage rates should sustain the housing market in 2020. The problem will be finding enough homes for buyers.
With unemployment hovering at a 50-year low and interest rates well below historical norms, the real estate industry is being dragged down by scarcity in housing stock, especially at lower price ranges. Not enough homes are being built, and homeowners are staying put longer, creating a bottleneck.-Kathy Orton Washington Post
In the Upper Valley area it is entirely possible that inventory will remain an issue for home buyers. And sellers also need there to be adequate inventory because they need to successfully secure a new place to live.
If you are buying or selling real estate in the Upper Valley this spring, here are some tips that will help you navigate the process and stay competitive.
The spring real estate market can be an exciting time to find your new home. If you plan on buying real estate this spring reach out to Title Mortgage today to get the loan process started and obtain your pre-qualification letter. Title Mortgage, LLC is a leading mortgage banker and broker located in the heart of the Upper Valley. Our team is ready to make your home buying dreams a reality.