Spring Has Sprung!

Spring is finally here!  While temperatures have already been steadily rising over the past few weeks, it just feels warmer knowing it’s officially the spring season.  But aside from blooming flowers and greener grasses, there are a few more telltale signs that show us spring has sprung – many of which we can find in the housing market!

Birmingham and the surrounding metro areas have been performing extremely well in their respective housing markets.  Despite one of the coldest winters in recent history, most markets sustained growth throughout the season.  And now, as we move into the spring market, projections are looking better than ever.

Looking back at the results from the fourth quarter of 2013, it’s expected that the first quarter of this year will follow a similar pattern, according to Tom Brander, a local real estate expert.  This could lead to even stronger local economies and an increase in market activity.  So far, predictions have rung true: 2014 February sales numbers for the Birmingham residential market were up 22.8% since January.

Spring can bring more than rain showers and warmer weather; it also brings future homebuyers into the housing market!  According to the January 2014 National Housing Survey conducted by Fannie Mae, 70% of respondents say they would buy their homes if they were to move.  Doug Duncan, chief economist and senior vice president with Fannie Mae, says that for the first time in the 3-year history of the survey, “the share of respondents who said it is easier to get a mortgage surpassed the 50% mark.”  He goes on to say that the “gradual upwards trend in this indicator during the last few months bodes well for the housing recovery and may be contributing to this month’s increase in consumers’ intention to buy rather than rent their next home.”

Here at Ross Bridge, we couldn’t agree more!  Why rent your home when you can reap the incredible benefits of homeownership?  In our community, the perks of homeownership go far beyond just owning your house.  Ross Bridge is an all-encompassing golf resort community complete with luxurious amenities like pools, parks, and the Marriott Renaissance Ross Bridge Golf Resort & Spa.  Not to mention, the Ross Bridge Golf Course is a stop on the renowned Robert Trent Jones Golf Trail, allowing homeowners the opportunity to play on one of the best courses in the state.  Owning your home has never been better when you live at Ross Bridge!

Source: Alabama Center for Real Estate, Market Trends: Alabama Real Estate