Confidence is definitely the buzzword for the real estate market and the economy overall as we welcome the sunshine of May!

A report by Realtor.com is good news for anyone closely monitoring the housing market. Yes, inventory is still low in many areas of the country as the busy spring homebuying season gets underway. BUT relief is in sight as the economy and consumer confidence continues an impressive rebound.

Consider these projections from Realtor.com’s leading economist:

Mortgage interest rates will remain low, in many cases under 3 percent.

1 in 10 homeowners plan to sell in the next year – with a majority looking to list in the next six months.

A majority of those houses will be priced under $350,000, creating opportunities for first-time home buyers.

Here’s another silver lining: Many American households were able to grow their savings this past year. As we return to normal, the West Virginia Bankers Title team expects some of those savings to be released into the housing market.

We know our lender, attorney and Realtor friends are extremely busy helping buyers and sellers win in these market conditions. Our experienced, close-knit team knows getting to the closing table is Priority No. 1. We have perfected our workflow so securing title insurance is a simple, efficient and stress-free process. Reach out to us today to learn more about how we can help!

Have a great month!

Bob Drummond, Vice President/Agency Manager of West Virginia Bankers Title