Industry experts now say that the housing market may be on the mend, as the Federal Reserve keeps future rate hikes on hold, builder confidence holds steady, and other dynamics shift for spring.
The latest data from government-backed lender Freddie Mac show that the 30-year fixed average dropped to its lowest rate in more than a year, 4.31 percent.
Greg Ugalde, president of Connecticut-based builder T&M Building Co. and new chairman of the National Association of Home Builders recently spoke with the Associated Press about the industry.
For the first time in years, the real estate market's peak spring season is starting with homebuyers in a stronger position than home sellers, and in the nation's hottest markets.
Recent Quinnipiac poll data show that 43 percent of California voters say they can't afford to live in the state, and more than 75 percent believe that there's a housing crisis.
In 2018, U.S. homeowners collectively gained 8 percent in home equity, or $678 billion, per CoreLogic data. Per homeowner, that comes out to about $9,700 in added wealth.