From the Wall Street Journal: As we enter the busy season of home selling, buyers can expect lower inventories and higher prices, experts say, but low interest rates take away some of the sting.
As winter draws to a close, homeowners coming out of hibernation are looking for new homes. And those who sleep to late can expect to pay top dollar for the house they want.
Buyers are anticipated to outnumber sellers this spring, creating a shortfall in inventory that is driving up asking prices, says Lawrence Yun, chief economist for the National Association of Realtors, or NAR.
One piece of good news for home buyers this spring: Mortgage rates are expected to stay low. Click here to more information from this article.