Those buying a home should be in a good position this spring as a number of trends are helping drive the housing market forward.
From the easing of price gains to the arrival of spring, home buying activity is expected to increase in the near future. As a result, buyers will want to do everything they can to ensure they are ready for this purchase. Finding trusted professionals - like a good home inspection company - can make all the difference in making a more informed home buying decision.
Buying season has arrived
The start of spring means a number of things - the weather is improving and more buyers are shopping for homes.
This increased competition is expected to take place among more traditional home buyers, compared to last year, when investors dominated the marketplace. Home buyers won't have to worry - as much - about being outbid by an investor, helping them get the home of their dreams.
The start of spring also likely means more construction of new homes. As this past winter was particularly rough, many builders were forced to put projects off. However, the start of spring could come with more inventory available for buyers.
Price gains are easing
Another welcome sign for home buyers is the fact that price gains are easing. Where it was all-too-common to watch home prices rise by double digits from month to month in 2013, that trend is not continuing into 2014.
A recent report from Clear Capital showed that home prices remained almost flat in the first quarter when compared to the fourth quarter of last year, HousingWire reported. Not only is this a sign that the market is finding a healthier balance, but also that buyers won't have to worry about prices rising too high in 2014.
"Our data through the end of March reveals prices remained steady through the final weeks of winter, a sigh of relief to all market participants," said Alex Villacorta, vice president of research and analytics at Clear Capital. "Yet, national quarterly gains of just 0.7 percent mean there's certainly still risk for short-term price declines in some markets. But over the year, we see phase three of the recovery unfolding, which we define as moderation across all price tiers."
Home buyers should be in a good position to make purchases in 2014. As such, they will want to enlist the help of trusted professionals to streamline the overall process.