When the spring homebuying season kicks off in the days and weeks ahead, don’t expect prices to rise as fast as they did last year, Trulia Chief Economist Jed Kolko tells Bloomberg News reporter Prashant Gopal. Expect to see “a less frantic market with more inventory and fewer investors.”
More inventory would spare buyers from last year’s bidding wars, when inventories were at 12-year lows.
Gopal kicks off his story with the tale of a family who purchased a home in Atlanta’s Buckhead neighborhood for $375,000 in 2011 and just put it on the market for $710,000. Source: newsday.com.