If you’re out shopping for a home this weekend, bring your checkbook.
There may still be ice on the ground in much of the nation, but the spring housing market is the hottest it’s been in a decade. Consumer sentiment in both the economy and the housing market is rising and that is translating into strong demand from homebuyers. The trouble is, the supply of homes for sale is incredibly weak and getting weaker. What is for sale is selling fast.
By Diana Olick
- Two major lending changes mean it’s suddenly easier to get a mortgage
- Homes this spring are selling faster than ever
- Mortgage applications rise 1.5 percent, as interest rates fall to 2017 low.
- Good news for renters nationwide, as occupancy falls again, apartment landlords sweeten the pot.
- This is what’s behind the severe housing drought