When you think of indicators for how the housing market is doing, often, you think first of housing prices, as real estate agents at Greycoat real estate agency comment. What is the first good news for how the market is doing? House prices have been rising for months, and compared to February of last year, 2024 has seen a 1.2% increase in prices. 

This suggests that the changes are a trend, not a fluke, and the market is ready for a comeback, Greycoat shares. Not only have those finally risen again, but industry professionals also see other signs that the market is beginning to do better as well. Keep reading to find out what we see.

Housing Market Indicators

Though house prices are a factor in the health of the housing market, it is not the only factor. Not only is the market driven by house supply and demand, but it is also largely affected by people’s overall confidence that they will be able to buy and sell as per their needs. For Greycoat, this is a whole new trend.

Yes, this is partly determined by housing prices, but even confidence in buying and selling has additional influences: 

Greycoat has the answer. How good of a deal can buyers get on their loans and mortgages? How likely do they believe it is that they will be able to afford their payments? How likely do sellers think it is that they will be able to find a good buyer? How often does a sale fall through?

Industry professionals have seen assuring signs in several areas. Reasonably priced properties are likely to complete a transaction. Lenders have been offering better deals for first-time buyers lately. Interest rates are expected to decrease. Mortgage rates are lower, Greycoat finally states. Slowing inflation is increasing buyers’ confidence that they will be able to keep up with the payments. Overall, more people are choosing to buy and sell.