Just in time for spring selling season to start, sellers are finally starting to put their homes on the market, upping the selections for buyers, according to the latest analysis from realtor.com®. Higher inventories and buyer demand are expected to boost closings this month, according to realtor.com®.
“The biggest macro trend is that we’re finally seeing inventory grow,” says Jonathan Smoke, realtor.com®’s chief economist. “This is a very important trend for many reasons – in particular, because it will help keep prices at a more moderate level down the road.”
Affordability had become a chief concern recently in the housing market. So what’s changed and why are more sellers putting their homes on the market?
Smoke says home owners are being encouraged by the current higher prices. But Smoke says those will level out as supply rises to meet demand.
According to Realtor.com®’s February data, some housing markets are already showing a big upswing based on the ratio of listing views at Realtor.com® to the number of listings for-sale. Those 20 markets are:
- Waco, Texas
- Dallas-Fort Worth-Arlington, Texas
- Santa Rosa, Calif.
- Denver-Aurora-Lakewood, Colo.
- Vallejo-Fairfield, Calif.
- Ann Arbor, Mich.
- Fort Wayne, Ind.
- Santa Maria-Santa Barbara, Calif.
- Charleston, W.Va.
- San Luis Obispo et al, Calif.
- Columbus, Ohio
- Boulder, Colo.
- Detroit-Warren-Dearborn, Mich.
- Hartford-West Hartford et al, Conn.
- Manchester-Nashua, N.H.
- San Francisco-Oakland et al, Calif.
- San Diego-Carlsbad, Calif.
- Charleston-North Charleston, S.C.
- Toledo, Ohio
- Boston-Cambridge-Newton, Mass.-N.H.
Source:”Spring Is Coming, and These 20 Markets Are Heating Up,” realtor.com® (March 6, 2015)