Spring into a hot real estate market
What’s going on with the real estate market this spring?
As the weather begins to warm and days get longer, I often get asked the same question this time of year: "How’s the spring market shaping up?" The answer depends on a few key factors, but one thing is certain: Spring remains the most active season for residential real estate.
Why Spring? Historically, Spring is the kickoff for the real estate market. Buyers are eager to move before summer, and sellers want to take advantage of the increased demand. But while the season brings more listings to the market, it’s important to understand when it's truly the right time to buy or sell.
In our local market—and really, across the country—the two most influential factors right now are supply and demand, and interest rates. Let’s break that down.
Supply and demand still rule the market
Like any other market, real estate is fundamentally driven by the law of supply and demand. When inventory is low and buyer demand is high, we see homes selling faster and for higher prices. This pattern is especially pronounced in the spring season, when eager buyers often outpace the number of homes coming onto the market.
In our valley, we’ve been navigating a supply shortage for years. Even with more homes hitting the market this spring, the imbalance between buyers and available inventory means sellers continue to have a strong advantage. This is why pricing, days on market, and negotiation leverage are all influenced so heavily this time of year.
Agents must be able to explain to clients that real estate pricing isn’t arbitrary—it’s dictated by this basic economic principle. And right now, that principle is still pushing the market in favor of sellers.
Interest rates: A glimmer of opportunity
The second major factor shaping this spring market is interest rates. After months of volatility, we’re finally seeing a bit of relief. According to Lawrence Yun, Chief Economist for the National Association of Realtors, mortgage rates are expected to hover around 6.5% in April, the lowest level since the last federal election cycle. In fact, Freddie Mac reports that the 30-year fixed mortgage has remained under 7% for nine consecutive weeks—a trend that’s already drawing more buyers into the market.
Even slight improvements in rates can significantly affect affordability, bringing more buyers off the sidelines and back into active house hunting. Yun also points out that we’re beginning to see a modest uptick in inventory, which should create a healthier, more balanced environment for both buyers and sellers.
What does this mean for you
If you’re a homeowner and are considering selling, now is the time to have a serious conversation with your real estate broker. A professional can provide a Comparative Market Analysis (CMA), help you understand current pricing trends, and give you a clear picture of your competition. Spring is when the largest pool of buyers is actively looking—but it’s also before the potential flood of summer inventory hits. Listing now could mean less competition and quicker offers.
If you're a buyer, spring offers a unique opportunity. The market is more stable than it has been in recent months, and you’ll likely benefit from a slightly slower pace and more negotiating room. As more inventory becomes available, you’ll have more options to choose from, while still taking advantage of interest rates that remain historically moderate.
Whether you’re thinking about buying, selling, or just keeping an eye on the market, the key is to stay informed and work with a knowledgeable professional who understands the nuances of today’s market. Real estate is always local, and every neighborhood responds differently to broader market trends.
Let’s talk about how these shifts may affect your real estate goals this spring—and how we can position you for success in 2025.