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Opportunities and Outlook for the 2023 Spring Market

Expectations for the spring market and the opportunities waiting for you.

It is still February, but spring is already showing up in the real estate market in central Iowa. Over the last few weeks, we have seen an increase in the number of properties that have gone under contract, with mortgage applications rising by over 25%.

What does this mean for us? I believe this means that our market will be strong again this year. It might be a more normal market, but we can expect to see multiple offers on properties, more than we did in 2018, which was considered a normal market.

If you’re a buyer, get your information together and get pre-approved, and let’s go look at houses. The inventory is currently higher than it has been in quite some time. As we move through spring and summer (spring in real estate terms lasts until the end of March, and summer begins in April), you’ll see more activity and multiple offers. I want to prepare you for that situation, so don’t hesitate to reach out.

“Inventory is currently higher than it has been in quite some time.”

Sellers should list as soon as possible and take advantage of the opportunities in the spring market. There is higher demand from buyers, and inventories typically increase in April, May, and June. The sooner you are on the market, the less competition you’ll have. 

If you have any questions or need help with your real estate goals, don’t hesitate to give me a call or send an email. I’m always happy to help.

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I can’t say enough good things about my experience working with Bob Darr. Highly recommended!
David Birchmier