BUYERS ARE SPRINGING INTO ACTION

By Theresa Swanson

It’s official – the spring buying season has returned. For years, spring was a signal for buyers to start touring model homes.

Associations planned their annual parade of homes events, and builders scheduled the opening of their new communities and the introduction of their new models, all to coincide with the increased housing activity that occurred every spring.

Over the last decade, however,  consumers have become more unpredictable, making it difficult for builders to time the debut of their homes and communities to coincide with demand.

But if this past spring is any indication of things to come, it looks like we finally have strong signs that the housing market is stabilizing.

While much of the nation was dealing with torrential rains and other weather anomalies, the housing numbers were still strong, with April of this year boasting a 26 percent increase in sales over the same month last year.

Even the traditionally slow month of February posted the strongest sales numbers in seven years.

What’s driving all this good news? The fact that mortgage rates are still at historic lows and builders are offering an amazing array of housing options is playing a major role in fueling demand.

Also, in Central Florida especially, renters simply have come to realize it’s much more affordable to own their  own home than to pay a landlord. While rent in Orlando is not nearly as high as New York City, this market ranks as the 13th least-affordable rental market in the country — a sobering thought.

But also just one more reason why buyers are back this spring.