Do You Know How Much Your House Is Really Worth?Want to know something important you probably don’t have a professional check for you nearly as often as you should? Spoiler alert: it’s
*KCM-Homebuyer Activity Shows Signs of Warming Up for Spring
Dated: April 15 2023
Views: 66
The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest:
“Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.”
We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia:
“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.”
That means the number of mortgage applications shows how many buyers are applying for mortgages. Put another way, an increase in mortgage applications means an increase in buyer demand – and as Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains, application activity started ramping up as mortgage rates fell steadily in March:
“Application activity increased as mortgage rates declined . . . recent increases, along with data from other sources showing an uptick in home sales, is a welcome development.”
In fact, we can see how mortgage rates have a direct impact on applications over time. As rates rose dramatically last year, applications fell in response (see graph below):
The recent uptick in mortgage applications, as well as the decline in mortgage rates, is good news for sellers because it means more buyers are actively looking for homes.
What This Means for You
Buyers are coming this spring, which is typically the busiest time of the year in real estate. And as Realtor.com tells us, if you’re a seller, you need to prepare:
“If homeowners are planning to sell in 2023, now is the time to get ready.”
The means working with a local real estate agent to maximize your home’s appeal and get it listed at the ideal price for your area.
Bottom Line
The housing market is warming up for spring. If you’re thinking about selling your house and taking advantage of this recent uptick in buyer activity, let’s connect.
Bruce Webb
Associate Broker, SRES, CNE, ABR, SFR Bruce has been serving Buyers and Sellers with their real estate needs since 1991. He actively services real estate clients in Wayne, Oakland, and Washtenaw count....
Latest Blog Posts
Four Ways Your Home Equity Can Work for YouYou may have heard homeowners today have a lot of equity built up. But what does that really mean? Let’s break it down.Because your equity isn&rsquo
Why So Many Homeowners Are Downsizing Right NowFor a growing number of homeowners, retirement isn’t some distant idea anymore. It’s starting to feel very real.According to Realtor.com
How To Stretch Your Options, Not Your BudgetOne of the biggest homebuying advantages you can give yourself today is surprisingly simple: a flexible wish list.Think of it like this. Your wish list
Listing information is provided by Participants of the MichRIC MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. ©: MichRIC MLS. Last Update September 23, 2026 2:07 PM UTC
IDX provided courtesy of Realcomp II Ltd., via Preferred, Realtors Ltd and The Originating MLS(found above), © 2026 Realcomp II Ltd. Shareholders. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
