A positive jobs report, high home affordability and low mortgage rates appear to be the primary factors that may have more people moving this spring.
In a Housing Market Outlook report recently released by Freddie Mac
, housing analysts believe there will be a surge in home sales due to the extent of the economy's recovery. For instance, the outlook highlights how unemployment has declined for the fourth straight month, how 10,000 jobs have been added to the real estate sector alone since November 2010 and that fixed-rate mortgages are expected to rise, leading to more people taking advantage of the lower rates while they still can.
Frank Nothaft, vice president and chief economist for Freddie Mac, said sales in February are setting things up nicely for more homebuyers coming into the market..
"Expect to see a bit of spring in home sales activity during the second quarter," Nothaft said. "Sales contract signings for existing homes were up in February, positioning the market for a bounce up going into the traditional homebuying season."
Last month, the National Association of Realtors reported that contract activity was up 20 percent following the expiration of the homebuyer tax credit last year.