Sage Realty LLC, Main Line Realtors, Has Announced a Positive Outlook for the Spring 2016 Real Estate Market
Wayne, PA – April 2016 – Sage Realty LLC, Main Line realtors, have announced that the 2016 Spring season is likely to bring positive growth to the real estate market as oil prices continue to stay low and more prospective buyers enter the market.
Despite lingering economic uncertainty, the real estate market this spring is predicted to be one of the best seasons in nearly a decade, following the increased demand for housing that began last year. According to Jonathan Smoke, Realtor.com’s Chief Economist, “Our traffic, searches, and listing views exhibited the January ‘pop’ we saw last year, which made for a strong spring. In addition, a large number of prospective buyers have been telling us since the second half of 2015 that they plan to purchase in the spring and summer of 2016.”
The first quarter of 2016 showed promising growth in both home prices and length of time they spend on the listing pages. Listing prices averaged an 8 percent increase, while homes selling by the 100th listing day increased by 4 percent. Even shorter times on the market is expected as Spring progresses.
According to Ralph McLaughlin, Trulia’s Chief Economist, oil prices are likely the cause of the positive projected growth for the spring 2016 housing market due to increased savings power. The additional savings from lower gas prices have, in theory, allowed more households to save for a down payment.
Diana Olick reported on CNBC that in early April, new home mortgage applications were up 24 % over the same time last year. She further noted that this is the highest level since 2010.
For more information about the projected Spring 2016 real estate market, and for expert real estate services, please contact Main Line realtors, Sage Realty LLC.
About Sage Realty LLC
Sage Realty LLC is a buyer-centric real estate firm founded by Linda Waters. With decades of experience, and holding certifications as specialists in luxury homes and buyer issues in real estate, Sage Realty LLC is a strong partner in the home buying process. Sage Realtors are dedicated to helping their clients find their dream homes in the Main Line, PA and surrounding areas.
For more information, please visit www.findahomeinpa.com or call 610-687-4000.
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