Home-buyer activity increases for the fourth straight month

COVENT GARDEN, U.K. - June 25, 2015 - PRLog -- The National Association of Realtors has reported that year-over-year home-buyer activity increased 11% in March. This good news was built upon when April’s figures were released and released that activity had increased 3.4% from the month before and 14% year-over-year. This represents the greatest rate of increase since 2006 and the trend appears to be continuing. Buyer activity continues to increase, prices are rising and inventory is not keeping up with demand.

NAR’s chief economist, Lawrence Yun commented on the continuing shortage of inventory by saying: “Realtors are saying foot traffic remains elevated this spring despite limited—and in some cases severe—inventory shortages in many metro areas. Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale.” Yun expects the national median existing-home price will rise to around 6.7% for this year.

Author: Anton Tardif Castle Keep Bonds