“Buyers are incredibly sensitive to rates,” said Daryl Fairweather, chief economist for the. And so are sellers. Many have lower mortgage rates and don’t have a financial incentive to sell just to turn around and buy at a higher rate.
The strength of this spring market will depend on how many sellers jump in. Economists are watching numbers of new listings to see when — or if — they come back. Across the Mid-Atlantic, sellers usually get out ahead of buyers, putting their homes on the market in the first few months of the year in anticipation of more activity in the spring.
. But sellers are reluctant, and buyers have entered the market slightly ahead of them, said Lisa Sturtevant, chief economist at Bright MLS.Sturtevant and other experts shared some tips for navigating this market., but that doesn’t mean buyers can take their time when they find a property they like. Because there aren’t many homes for sale, buyers need to be ready to jump on one.