Spring is finally here: Here's the real estate outlook in CT this spring

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Spring is finally here and local realtors are expecting the market in eastern Connecticut to be busy over the next few months.

Realtor Martha Poole said sellers have had all winter to make sure their houses are in pristine condition. She said homes have better curb appeal in the springtime because of the warmer weather.

“The grass is green, the flowers are blooming,” Poole said in regard to the spring housing market. “They [sellers] can clean up the outside of the house, power wash, plant flowers.”

Poole added that families want to move into their homes right after the school year ends in June, so their children can start the upcoming school year in their new home.

Interest rate expectations this spring

According to a Money.com report from March 24, mortgage rates have been hovering in the mid-6% range over the past few weeks and most experts do not expect a significant change in the near future.

However, tariffs imposed by the Trump administration might increase the price for goods and services, which could in turn cause interest rates to rise.

“We don’t know with the tariffs and all that’s going on with the government side of things, what’s going to happen,” Poole said. “But historically, the spring market is always our busiest market.”

Housing Inventory

Realtor Brittany Howard said there is high demand for housing in Connecticut right now, however there is low inventory. She expects there to be more buyers and sellers this spring, however she thinks there will be many more buyers than homes for sale.

“I think we’re still going to have more buyers than sellers,” Howard said. “And that’s what’s really created this market that we’re in… For each house, we have 5-10 buyers.”

This article originally appeared on The Bulletin: State of the housing market this spring in CT