Thursday, February 13, 2014

Home Buyers Will Find Less Competition This Spring

First Time Homebuyers
"You really like the front door?  Of course we can buy it, honey!"

According to Zillow.com, people looking to find a home should find a little bit less competition this spring, especially at the low end.

Investors, who are more likely to come in with cash offers, are going to slow their activity compared to last year's buying frenzy.  Those investors spurred higher prices, which means that real estate becomes less attractive to them now.

“Real estate investors, both large and small, played a crucial role in helping to stabilize markets during the darkest days of the housing recession, but a decline in investor activity now isn’t necessarily a bad thing, and could have real benefits for buyers,” said Zillow Chief Economist Dr. Stan Humphries.  (Okay, who else did not know they had a Chief Economist?)

There's a lot more analysis if you follow the link to their article.

Link:
http://www.zillow.com/blog/2014-02-11/home-price-expectations-2014-q1/