Spring is when the home buyers show up. That’s why sales expectations for the season always run high. Some of the time, those expectations get derailed by world events and economic uncertainty. Buyers get hesitant and the season’s numbers are underwhelming. Other times, it depends on where you look. This year’s spring season may be one of those times. In fact, according to one recent analysis, spring sales are booming in some regions and not in others. They’re showing the most promise in areas where more inventory has been built. Put simply, the demand from buyers is there and – where there are homes available to buy – they’re buying them. Currently, that’s primarily in the South and West. Austin leads all major metros with an annual sales growth of 20 percent so far this spring. It also leads the nation in inventory growth, with the number of homes for sale up 52 percent over pre-pandemic averages. On the flip side, the Northeast and Midwest – where fewer new homes have been built – have seen a slower spring so far this season. (source)
