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The coming spring season, when home sales usually take off, could be a great one for buyers as the stars align in their favor: Mortgage rates are low, inventory levels are higher and price growth has slowed. Already, home sales have begun to rebound from a sluggish end to 2018, signaling strength in the months ahead.But with the recent pace of new-home construction still well below demand, will there be enough options available to buyers to make a difference?
A few different reports and housing market experts have recently weighed in on both sides of the issue. Here’s what they are saying, given the latest data:
Price is still paramount
Purely from a pricing perspective, it would appear buyers have the upper hand heading into spring.
According to the latest Case-Shiller home price index, released March 26, price growth slowed once again in January, to 4.3 percent. That marks 10 straight months of declines nationally.
“This is a strong signal that the homebuying season this spring will look quite different than in recent years,” said CoreLogic economist Ralph McLaughlin regarding the new Case-Shiller report. “While sellers still hold a good set of cards, buyers in some high-price coastal markets have recently drawn aces with rising inventory …

Article From: "Andrew Morrell"   Read full article

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