• Home
  • Blog
  • Articles
  • Main Line Realtors® Outline What Spring Has in Store for the Housing Market

Main Line Realtors® Outline What Spring Has in Store for the Housing Market

Main Line RealtorThe spring housing rush traditionally begins after Super Bowl Sunday as more homeowners begin listing their houses and buyers anticipate their tax refunds. A lower inventory suggests the housing market is moving towards a seller’s market. The local Main Line Realtors® at Sage Realty offer these predictions for the upcoming season.

A Low Inventory Creates Higher Prices

Real estate is the perfect example of the economic theory of supply and demand. As more Millennials become first-time home buyers, the limited inventory and increased competition have helped to create higher home prices. While this is good news for sellers looking for a larger return on their investment, potential buyers may be deterred. However, as interest rates continue to rise, the steady increase of home prices is expected to gradually slow. 

Higher Interest Rates Expected to Lower the National Home Price Index

With an improving economic forecast, interest rates are expected to continue to rise. As interest rates increase, the home price increase of recent months will likely slow to compensate. The combination of short supply and higher interest rates could create a stagnant market in some areas as Millennials struggle to save for large down payments and higher mortgage costs. 

Working with a buyer’s agent, such as a Main Line Realtor® at Sage Realty, can help new home buyers understand the implications of these higher interest rates to determine the best time for them to buy.

Local Main Line Realtors® Foresee Increased Supply

Realtor.com’s® 2017 National Housing Forecast also predicts that the housing market’s prices will slow somewhat as interest rates climb, however local area Main Line realtors are leaning towards positive 2017. Many believe that the improved equity and higher home prices will tempt more homeowners to list their current houses for sale. As more current homeowners opt to downsize or upgrade their homes, buyers will begin to have a greater selection of homes than is currently available.

Despite the current limited supply of homes for sale in the Main Line, buyers are encouraged to begin their house hunt early to improve their chances of securing their ideal homes before interest rates climb much higher.

Call a Sage Realty Main Line Realtor®for Experienced Guidance Buying or Selling a Home

For more information about the current housing market in the Main Line or surrounding areas, or to begin your home buying journey, please contact the experts at Sage Realty. Our Main Line Realtors®are dedicated to our clients’ best interests.

Tags:

Featured Testimonial

I moved to PA from Washington State and learned that realty is local. There were things that I thought I knew about buying a house previously but boy was I wrong. Linda was very patient with me but also did not hold back when she saw potential problems, and always made sure I had all the information I needed before making a decision and didn’t belittle concerns to just get a sale. Above all else, and this was the most important thing to me, Linda has a high ethical standard, is very transparent in her approach and is someone I trusted making one of the biggest decisions of my life. – A. Lindsay (Courtesy of Google)

 

Hear From Our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Hear from our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Sage Buyer Tips

Use Sage Buyer Tips to research the Main Line and stay up to date on real estate news. This online destination is chock full of resources for buyers and sellers: you can see our Main Line communities or explore Sage favorite places. Browse properties here and search other Main Line real estate. With Sage’s advice and experience, first-time buyers and those looking to upgrade can find homes best suited to their needs.