Kasama Lee reviews
kasama@kasamasells.com 707-567-1049
CalBRE #01408667
Buyer Demand Surging as Spring Market Begins
April 18, 2019
0
Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.

However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).

Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Buyer Demand Surging as Spring Market Begins | MyKCM

Why the increase in demand? Increased buying power.

According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which has led to increased demand.

“Due to the combination of falling home prices and mortgage rates, the income needed to make an affordable mortgage payment (mortgage no more than 25% of income) on a median-priced home with 10% down payment and 30-year fixed rate mortgage decreased from $60,425 in June 2018 to $53,783 as of February 2019, and the difference of $6,642 represents a gain in buying power because one can afford a home purchase at a lower level of income.”

Bottom Line

It appears the spring buyers’ market is going to be much stronger than many had projected. Whether you are selling or buying, this is important news.

SOURCE: Keeping Current Matters

I take pride in building my business through referrals and trust. Looking for a local expert to help you navigate in the current real estate market with results? My team and I can help you through the buying and selling process, do call me at 707-567-1049.

With gratitude,

Kasama Lee is a top-producing Realtor® and a community contributor specializing in the Napa and Solano Counties. Kasama and her husband, Barton, are raising their two boys in American Canyon and have been residents since 2002. They’re proud to contribute and give back as residents of this warm, friendly and supportive community.

CalBRE #01408667

Berkshire Hathaway HomeServices Drysdale Properties

Berkshire Hathaway
4765 Mangels Blvd.
Fairfield, CA 94534

kasama@kasamasells.com

707-567-1049

CalBRE #01408667