As spring approaches, there’s always an increase in the number of Americans who express interest in buying or selling a house. For many reasons, spring is traditionally the season when the housing market heats up. So, it’s no surprise that Fannie Mae’s most recent monthly measure of Americans’ feelings about the housing market shows an increase in optimism. In fact, the number of survey respondents who said now was a good time to buy a house rose 3 percent from the month before and the number who feel it’s time to sell rose to a new survey high. In other words, interest is high. But, according to Doug Duncan, Fannie Mae’s chief economist, it’s difficult to say yet how the market will perform this year. “Results may continue to fluctuate over the coming months as consumers sort out the implications of the newly passed tax legislation on their household finances,” Duncan said. However, with high interest from buyers and sellers, and a growing economy, early signs point to a busy spring for the housing market. More here.
For an in-depth analysis of the effects of the 2017 Tax Reform on local real estate markets, be sure to attend Michael Ferruggia’s forthcoming CE Class coming soon. Registration will be available at www.nycore.net.