Return of the Spring Real Estate Market- What Should I Expect?
The real estate market has undergone a change or two since COVID first showed up in our news feed. From record sales all year round, to a bit of a slowdown after interest rates rose, and finally a general leveling out in the new year, a lot of people are wondering, “When should I start looking for a new home?” Well, Eastbrook Homes is excited to re-introduce an old friend: the Spring Real Estate Market!
Spring is the time of year people shed their winter coats and outdated homes for a fresh start in a new place. Focus turns to finding the perfect outdoor living space as warmer weather draws out sun-deprived Michiganders (or overheating out-of-staters) to everyone’s favorite date night, the open house. The spring real estate market inspires renewed interest in all things homebuilding, home buying, and home selling, and we’re thrilled to welcome back our favorite season of the year.
What can prospective buyers expect from 2023’s spring real estate market? Join along as Eastbrook Homes dives into market predictions and tips designed to bring you and your family closer to the home of your dreams!
Spring Real Estate Market Predictions
Real estate experts agree – the last few years have been anything but predictable! Luckily, springtime brings much-needed stability to what seemed like a roller-coaster housing market over the last few years.
Market authorities suggest buyers prepare for a relatively stable and, dare we say, boring year in terms of home pricing. Over the next 6 months, home values aren’t expected to increase or decrease much at all. This is great news for buyers on the fence about whether they should wait for the off-season or capitalize on the amazing opportunities they discover this spring. Spring real estate market predictions show no substantial changes, making it more affordable than ever to buy during a historically busy real estate season.
New construction homes are also on the rise and bring much-needed relief to regional inventory shortages. Buyers can look forward to more options while house shopping as recent data showcases a nearly 12% increase in Michigan inventory. Despite fluctuating material costs, supply chain disruptions are beginning to taper off, opening the door for homeowners to capitalize on incredible builder benefits like the Eastbrook Guarantee.
Is Now a Good Time to Buy?
The spring real estate market offers more opportunities than ever before to land your family in the home of your dreams. From stable pricing, to increased inventory, 2023’s warm-weather months usher in renewed, fresh perspectives full of possibilities. Start your dream home journey with a few of these expert tips and tricks customized to help you navigate the exciting decisions ahead:
- Download Eastbrook Homes’ free New Home Financing Guide! We simplify the home financing process to save you time and money.
- If you’re already a homeowner, start building equity now. More equity when you sell means more buying power, profitability, and greater options during the home search process.
- Meet with lenders to discover new, creative lending options that can fast-track your home search success while keeping your budget protected.
- Keep ahead of market predictions by checking local market resources throughout your dream home journey. Eastbrook’s Market Trends blogs are a great place to start!
- Keep your options open by exploring both move-in-ready homes and customizable home plans. Building your own home can often be comparable to buying an existing home in terms of cost while offering the added benefit of designing a home around your specific needs and lifestyle.
With so many real estate market changes over the last three years, it’s easy for buyers to find themselves frozen in home-buying indecisiveness. Let the warmth of Michigan’s spring real estate market thaw your uncertainty by exploring your dream home options with Eastbrook Homes. Our amenity-filled communities offer access to some of the most popular and well-loved parks, shops, and schools throughout Grand Rapids and the Greater Lansing Area. Take the first step in making your new spring home dreams a reality by checking out our free downloadable Interactive Home Building Guide or click here to discuss your dream home wish list with an experienced Eastbrook Homes Sales Agent.
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