Signs of Recovery: Housing Market Data Points to End of Downturn
Recent housing market data suggests that the downturn in the sector may be coming to an end. Through March, a range of indicators has pointed towards a possible turnaround, with some even suggesting that this could be occurring as early as 2023.
The most encouraging sign has been the increase in residential property sales over recent months; although still below pre-pandemic levels, there is evidence of renewed activity and confidence among buyers and sellers alike. This is being reflected in prices too; while values remain lower than before Covid-19 hit, they are beginning to stabilize across many areas of the country.
Meanwhile, mortgage applications for home purchases continue to rise steadily compared with last year’s figures – another indication that people are feeling more confident about investing again after such a difficult period for all involved in real estate transactions. The number of new listings also appears to be on an upward trajectory – something which will help provide additional choice for those looking at buying or renting properties over the coming months.
Overall then, it does seem like we’re seeing some positive signs emerging from within the housing market data – ones which suggest we could finally see things start turning around later this year if current trends continue apace!Read more at Yahoo Finance