Spring is here and, so far, the numbers look good. There was some concern that world events and an early-April rate increase would derail the spring housing market but, according to a new analysis from the National Association of Realtors’ consumer website, April saw buyers and sellers engaged and active. Danielle Hale, the site’s chief economist, says last spring’s market got off on the wrong foot but this year’s been different. “This year, different triggers like the Iran conflict, spiking gas prices, and surging mortgage rates have threatened the same outcome,” Hale said. “The hope was that sellers would continue coming to market at the strong March pace, and that buyers would keep engaging despite the volatility. By those measures, April delivered.” Among the highlights, new listings rose 1.1 percent over last year, median prices fell for the sixth-consecutive month, and mortgage rates – though slightly higher than earlier this year – are actually lower than the past two spring seasons. (source)
