Will home prices increase this Spring?
The market in 2020 and the early part of 2021 has been kind of crazy. There are a lot of things that go into that from low interest rates and low inventory and even a low number of homes being built around the area. Because of this, the prices in many areas jumped 10% or more, giving sellers a good incentive to sell and left buyers looking around for a new place to call home. But will this trend continue? Many believe that the wild price growth that was found in 2020 is going to slow down. This will come about for several factors. First, because sellers see how much the market has grown and changed, they may decide it is time to sell and take advantage of it. This will bring more homes to the market, giving buyers a chance to make purchases rather than waiting around for the perfect home. Another thing that may change is the price of building supplies. In 2020 and early 2021, the price of lumber and building materials was high. This made it unaffordable for many to build a home,