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Spring is always a good time for real estate but this year has an added benefit. The recent increase in interest rates across the country is going to shift home shoppers into home buyers very shortly. The rates are still at record lows but the thought of the rates climbing throughout the year has primed the real estate market for a booming year.
The majority of the winter weather has passed at this point and listings are going under contracts at a record rate. The spring inventory and rising interest rates will drive home buyers to move faster on their purchase and increase competition for what listings are on the market.
This is a great time of the year to dig deep in your pipeline and call the folks who were a bit farther out on buying a house. Letting home buyers know the amount of saving based on interest rates will get the wheels turning a bit faster and save them a lot of money in the long run.