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Recent data shows an increase of Buyers re-entering the housing market. This is likely a result of Buyers getting used to the fact that this may be the new normal for the market – especially as forecasts show mortgage rates may be starting to stabilize. After pausing their plans due to affordability concerns, many are now actively searching for homes. Three key indicators that show this shift include:
1) Mortgage applications have risen 37% since the start of the year
2) Buyer demand is up 3% since late January
3) Home showings have increased by 13% since the beginning of the year
With spring—traditionally the busiest season for real estate—approaching, market activity is expected to grow. If you’ve been waiting for the right time to sell, this may be your opportunity to attract motivated Buyers. To kick-start your plans, call The Campbell Group today to schedule a complimentary Seller Consultation.
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