Spring is Here! What does this mean for Home Buyers?

This last weekend I was showing homes in the Anaheim ,Fullerton, Buena Park and Santa Ana areas. Almost every property that I showed had at least 5 offers already submitted!! Mind you, that most of the homes I show have ONLY have 3 -4 days on the market!! Is it me, or was there a switch that was turned on by people looking for Real Estate?? The competition on buying homes is cranking up!

Granted, I have been experiencing an increase in buyer activity since late last year but the are some major reasons why we are seeing a push recently in these last few weeks.

Some of the reasons are the following: 1.The Traditional Spring Time Real Estate movement ( people looking to buy during the spring and summer months due to the fact its easier to move when kids are out of school) 2. Tax Refunds being returned and Obamas First Time Buyer Tax Credit of $8000). 3. People moving there funds in 401Ks and stocks into a more promising Real Estate market 4. INTEREST RATES are still at an all time LOW and people want to take advantage before rate increase ( and they will, most likely to curb inflation) 5. Inventories of homes. (Although, we are experiencing less and less inventory every month, there are still several months of inventory on the market)

To give this a statically view, we just heard that February had produced some 44% increase in Home Sales in comparison to last year at this time. In addition, a 5% increase from Jan 2009. From what I have seen, heard and read, I have a good feeling that March Home Sales numbers are going to blow Febuary right out of the water!