
We’ve got new data on the Spring housing market, and it’s…well, complicated. The monthly data shows more of the same: a sluggish housing market with negative home price growth. But zoom in, and the weekly data tells a different story. Pending sales and mortgage applications are ticking higher, and we’ve just crossed into what could be the strongest buyer’s market we’ve seen in years, with sellers outnumbering buyers in 38 of the 49 largest major metro areas. This can only mean two things: deals are getting better, and investors have more negotiating power than they’ve had in a while. As for whether a Spring homebuying season is taking shape, it depends on who you ask. Tensions in the Middle East, surging inflation, and housing affordability challenges are keeping many would-be homebuyers in limbo. But investors who have the means to buy, are actively looking in strong buyer’s markets, and are analyzing deals conservatively are seeing a new window of opportunity. The...
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