Today’s housing market may be better for home buyers than many of them realize. There have been significant improvements over the past year. Among them – according to one recent analysis – a dip in the typical monthly mortgage payment and listings that now last longer on the market. That means homes for sale are more affordable and selling more slowly, giving buyers time to consider their options when deciding whether or not to make an offer. Part of the reason for those gains is the continued improvement in the number of available homes for sale. Inventory has been building and new listings are now up more than 2 percent from last year’s level. That puts buyers in better negotiating position, with more options and more time to look. But while conditions have improved, sales have been relatively flat so far this spring, likely a reflection that buyers may’ve been ready to move but hesitated after a slight bump in rates earlier this year. (source)
