The spring-buying season has turned into a boon for the country with home prices benefiting immensely. If we look at the records from past months, the forecasts are turning true for most of the states. The forecasted growth percentage of yearly, two-quarter and quarterly gains is now standing at 8.6%, 1.7% and 1.4% respectively which is being touted as an appreciable increase from the projected percentage of improvement in the month of April.
The trends and forecasts are coming out to be favorable all over the country for the month of June, which is good sign for the housing industry. The spring-buying season will definitely have a positive impact on the housing industry this year.
The increased home prices in Las Vegas and surrounding counties, improvements in the market, improved customer confidence and gains in economic inputs are being considered as the major factors for this positive sign.
The housing market is expected to show exceptional gains according to the current trends but a certain amount of moderation is also estimated in the coming months as per the analysts of housing industry.
A gain of 10.1% is expected in the West whereas the South will see a gain of estimated 5.2% along with 4.6% and 4.1% gains in Midwest & Northeast respectively.
The housing market in Las Vegas is still running strong with early gains of 29.3%. It is one of the six others with 20% yearly growth. It is good to see gains at this time of the year when homebuyers are most active, but the analysts are still not expecting current growth rates to sustain throughout the year.