Housing market remains strong during the winter
Posted on Friday, February 6, 2015 at 8:09:06 AM
The winter is typically the down time for the U.S. housing market. Buyers retreat indoors, and fewer sellers put up a "for sale" sign in their front yard. Even so, the market has been steadily improving, according to a recent report from the National Association of Home Builders.
The NAHB found that 63 out of the roughly 350 metro markets at least met - or surpassed - their previous housing and economic activity levels over the last three months in 2014. The NAHB's Leading Markets Index's nationwide score also ticked up, while 69 percent of all areas improved on a yearly basis.
"The markets are improving at a consistent pace," explained NAHB chairman Tom Woods. "A growing economy and rising consumer confidence should help drive the release of pent-up demand in 2015."
In addition to the positive trends, Trulia reported that some housing markets are expected to enjoy a spring revival sooner rather than later. Naturally, the strong home-selling season starts out west, but activity is also high in Florida, Arizona, South Carolina and Missouri. Unfortunately, New England is one of the last markets to see activity increase due to warmer weather.
No matter what though, buyers looking for residential financing and a new home will find most markets gaining traction across the country.