For the first time in three years, the peak home buying season is bucking its usual slowdown, showing nationwide price and inventory increases, according to therealtor.com® July National Housing Trend Report.
“This is the first time, since the beginning of the recovery, that we expect to see positive momentum throughout the second half of the year,” said Jonathan Smoke, chief economist for realtor.com®.
For the past two years, the housing market saw external economic factors overshadow the gains made during the peak home buying season of April to July.
But not this year, Smoke said.
“This year, we’re ending the traditional season with high buyer and seller confidence demonstrated by price appreciation, increases in inventory and quick home sales,” he said.
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