Entering real estate’s traditionally busiest time of year, the national housing market is being buoyed by a stronger economy and consumer confidence. With job creation high, unemployment low, and strong consumer confidence its the perfect storm for a buyer frenzy.
Many buyers are in more of a hurry this year too. In the last two weeks, the 30-year fixed-rate mortgage rose by nearly a quarter of a point. The Federal Reserve also has given strong indication that it plans to raise short-term rates soon. Many experts are predicting multiple rate increases. This alone can cause buyers to get out and buy before the certain rate increase happens.
The Baton Rouge housing market is right in line with the nationwide run on homes. We are seeing the effects of these trends and buyers are out in force in our market. Spring always starts the buying swarm but this year there is activity above expectations and the result is a strong sellers market.
With lower inventories and higher demand, homes are selling faster. According to Reator.com 27 percent of homes sold in less than 30 days on the market. This trend is likely to continue for the coming months.
Contact Glenda Daughety and Team today for more information on homes in Baton Rouge. We welcome the opportunity to update you on current market conditions, fill you in on home trends in the area, and help you with all of your buying and selling needs. Let our knowledge and experience serve as your guide to Baton Rouge real estate.