1. Mortgage rates are still low
Low mortgage rates translate to lower monthly costs. Lower costs entice buyers, which is good for sellers.
2. Inventory is shrinking
When inventory shrinks, available homes become more valuable.
3. Home prices are rising
Lower inventory and greater demand have pushed up home prices.
4. Job markets are strengthening
As unemployment decreases and wages (finally) increase, consumer confidence will climb and will spur buyers to jump into the market.