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New U.S. claims for unemployment benefits fell sharply last week while nonfarm productivity in the fourth quarter was stronger than expected, confirmation the economic recovery was strengthening.
More news like this gives reason for tempered optimism about the upcoming spring real estate market. Home buyers seem to be gearing up for the season. Open house attendance and weekly activity has steadily grown since the beginning of the year as expected from week to week despite the stormy mess up here in the Northeast.
Buyers are getting pre-approved. Offers are being made. Some sellers, who are getting a jump on the typical March and April rush, are delighted to find there are buyers out there willing to make realistic and reasonable offers. Smart buyers understand there is an opportunity to find a home seller who does not want to enter the spring market fray and is instead realistic and reasonable about what they will accept. As a result, a good number of deals are happening.
Prudential Unlimited Realty has sponsored a First Time Homebuyer Seminar for over 10 years. These free seminars, which are designed to educate potential buyers about the process, the local housing market, and how to negotiate an offer, also give us, as exclusive buyers agents, the first glimpse of how many new buyers are entering the market each month. Most of the housing statistics people hear in the media are usually either national, regionals or state-wide statistics and are not usually based on the local market. Or, the statistics are somewhat outdated as they are reporting activity for closed home sales. Statistics for closed home sales are based on prices that were determined months before when the property went under contract.
We offer a seminar in each of our two locations in Brookline and Jamaica Plain. Click here to sign up for one of our free monthly First Time Home Buyer Seminars,
We would love to hear your comments and/or opinion on the local housing market or whether you are planning on buying or selling a home this spring. How will the latest economic news impact your home buying or home selling decision?
