Autumn could be best time of year for housing market
Posted on Wednesday, September 3, 2014 at 9:57:42 AM
Are you interested in residential financing and buying a new home this year? Well, then you might be in luck as this fall is expected to be one of the best times of 2014 for the housing market.
According to a report from real estate brokerage Redfin, real estate activity will likely surge now that Labor Day is over. Experts are predicting that sellers will soon cut prices, which paired with an improved market, will lead to more opportunities - and affordability - for buyers.
"Sellers are finally catching on that it's not a seller's market anymore," said Virginia-based Redfin agent Jeremy Cunningham.
Redfin also noted that an uptick in home sales could be coming this fall, thanks in part to a declining price growth helping buyers afford properties. The company's analysis of nationwide price appreciation found that growth was flat in every market included in the report.
The expectation of a better market is shared with Redfin by The Boston Globe, which reported that a tighter housing market could be turning around this fall.
Massachusetts Association of Realtors president Peter Ruffini explained that low inventory has been commonplace, but conditions are finally starting to change, according to the media outlet.