An article in CNNMoney highlighted why this spring may be the perfect time for sellers to get off the fence and move up.
A limited number of homes on the market will help sellers nab top dollar, and may even spur bidding wars and multiple offers.
The National Association of REALTORS® reports that inventory levels nationwide were at a 4.6-month supply in February.
A balanced market is considered to fall between a five- to seven-month supply.
•Mortgage rate hikes loom:
Mortgage rates are still sitting near historical lows, with the 30-year fixed-rate mortgage hovering under 4 percent.
The low rates have helped push more buyers into the marketplace, but they could also be a good thing for sellers
who are looking to rebuy. However, rates aren’t expected to remain this low for too much longer, which may prompt
a rush this spring.
FHA Lowers Its Harangued Mortgage Costs
The Federal Housing Administration is reducing its annual mortgage insurance premiums by 0.5 percentage points in a move "to expand responsible lending to creditworthy borrowers," the White House said in a statement Wednesday afternoon.