CLEAVES PARCEL BROCHUREConditions Are Ripe For Spring Home Buyers
As the spring home buying season approaches, there are many moving parts analysts and experts look at to determine how home buyers and sellers might fare. Economic growth, the job market, interest rates, home prices, buyer demand, and inventory are just some of the factors that will determine how many hopeful home buyers find new homes this year. According to one outlook – from Fannie Mae’s Economic and Strategic Research Group – conditions are good for buyers, except for one specific, long-standing obstacle. “We don’t expect rates to play much of a role in total home sales, especially with anticipated stronger disposable household income growth,” Doug Duncan, Fannie Mae’s chief economist, said. “The ongoing inventory shortages should constrain sales despite otherwise ripe home buying conditions.” In other words, though mortgage rates may inch upward this year, so will household income. That leaves inventory as the main challenge to buyers this spring. With fewer homes for sale, there will be more competition and pressure on prices. More here. 
Number Of Showings Up Over Last Year
If you want an accurate read of how many interested home buyers are active in the housing market right now, you can’t do much better than a measure of appointments to view available homes. The number of showings potential buyers set up provides a pretty good snapshot of how much demand there is from qualified buyers. And, according to ShowingTime’s Showing Index – which tracks appointments to view homes – there’s a lot. “Showing activity continued to increase overall as we moved into 2018, with several markets outpacing the National Index,” ShowingTime’s chief analytics officer, Danii Cherkasskiy, said. “Some areas in the South region saw relative increases in showing activity in January, compensating for the slowdowns experienced in the fourth quarter due to Hurricane Irma.” Overall, showings were up 5.2 percent year-over-year in January – a good indication that buyer demand will remain elevated this year. Among the reasons prospective home buyers are active right now, still-low mortgage rates, a stronger job market, and growing economic stability top the list. More here.
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Bedroom Communities Top List Of Safest Cities
A “bedroom community” refers to a suburb outside a major metropolis where the majority of residents commute to the city for work. These town have a number of characteristics that identify them but, according to new research from NeighborhoodScout, they are also known for safety. In fact, these suburban cities topped their most recent list of the nation’s safest cities. Andrew Schiller, CEO of NeighborhoodScout, says bedroom communities combine features that are attractive to home buyers. “We continue to see bedroom communities, which are within large metro areas and near major urban centers like Boston, Chicago, and New York, make the top of our list,” Schiller says. “These safe communities within the urban/suburban fabric of America’s largest metropolitan areas often combine access to high-paying jobs in the urban center, decent schools, and a high quality of life. This access to opportunity increases home values, with the result often being lower crime.” Cities in the Northeast topped the list, including Ridgefield, CT, which was named the country’s safest city. More here.
