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Tag Archives: Real Estate Spring Market Conditions

Expect to See an Exceptionally Busy Spring Home Buying Season in 2014

Spring home buyingIf you’re currently trying to sell your home on the local housing market, great news: it’s about to get very, very busy for you.

That’s because national real estate experts are projecting that this spring will see even more home buying activity than is already expected for this time of year.

Why? Because of pent-up home buyer demand from the unusually cold winter we had.  Home buyers who might have navigated the market in late 2013 and early 2014 ended up holding off because of the bad winter weather.  Can you blame them?  House hunting in frigid temperatures while trudging around in the snow and bad weather is no fun at all.

So now that it’s warming up outside, these home buyers – along with those who would have normally entered the market in spring – are flooding the real estate market.

More Trends to Expect This Spring on the National Housing Market

According to a recent Bloomberg article, the spring home buying market (which usually runs from March to June) was delayed because of the unusually bad winter we’ve had across the country.

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Ann Arbor Real Estate Market Update – May 2013

Ann Arbor Real Estate in a Balanced Market

Ann Arbor Real Estate Market Statistics for May 2013

Inventory for Ann Arbor Real Estate increased by 8%, putting us in a balanced market for the first time since July of last year, with a 5.5 months supply of homes available. As sales continue to be very strong throughout the spring, home values are rising and many sellers are finding they are able to sell their homes when they previously could not. Compared with May 2012, sales are up by 10% showing there is still a strong buyer pool out there.  The under $500,000 market continues to be in a seller’s market, with the exception of the $300k-$400k range being balanced, as these homes are selling very quickly, especially if they are priced right and in great condition.

With the continued price increases in the Ann Arbor area, your home may be worth a lot more than you think! For more information on the current market conditions or to find out what your home is worth, contact the Ann Arbor Real Estate specialists with The Bouma Group at 734-761-3060 or Search the MLS for homes here!