It is hard to believe, but spring is already around the corner. According to Zillow, homebuyers can plan for a fairly strong buying season, and many markets are already seeing the high numbers already. Parry Custom Homes, a Pittsburgh custom builder, shares what to plan for if you are buying or selling a home this spring season.
The shift from last spring to this spring was a lot of renters becoming homebuyers and investing in a home, opposed to continuing to throw away money towards rent. This has helped to boost the economy, as home investment in housing helps to boost economic progress.
However, across much of the country many markets are seeing very low inventory when it comes to homes for sale. It is hard to have a strong selling season when limited inventory is available on the market for homebuyers. Limited listings means that home prices will go up, and we will see fairly good home value appreciation with a solid demand for housing.
However, if inventory doesn’t pick up across the country, then the existing-home sales won’t pick up as much and will eventually filter into the GCP numbers. The numbers from last year lead economists to believe that this spring will be a fairly strong buying season since there was leftover demand from 2015.
As young professionals move out of their parents house, out of apartments, or away from their current roommates, many of them will be ready to begin hunting for their first home and to become a first time homeowner. Since now is such a smart time to buy financially, there will be plenty of people still wanting to buy while the interest rates are low and the ability to get a loan and qualify for a mortgage is still at the benefit of the buyer.
If you find yourself looking for a new home in Pittsburgh, Parry Custom Homes can help pair you with the perfect home to fit your needs and your budget this spring! Contact us anytime to get started.
Parry Custom Homes is an established homebuilder in the Pittsburgh area. Call or contact us today for more information about this floor plan option, or to view other homes in our portfolio that may suit your new home needs.