The forecast for becoming a homeowner this spring takes a few factors into consideration, according to Housingwire.com.
Don’t sweat a potential rise in interest rates
Current interest rates are not of much concern to the potential buyer, according to Trulia’s chief economist Ralph McLaughlin, because the federal interest rates are “loosely” tied to mortgage rates.
Inventory is low
So-called “starter” homes are in short supply, says housingwire.com. This could mean taking a while longer to find your new home or you might consider buying a “new inventory” home.
Buying is cheaper than renting
Despite the lower inventory, buying a home is still cheaper than renting in most places, particularly after five years.