New leading indicators are pointing towards a strong sales month for May 2019, according to a recent report from HousingWire. The report cites a number of factors including and uptick in mortgage credit availability, increased wages and fixed rate for home loans around 4%.
"First, the purchase index from the Mortgage Bankers Association, which measures applications for mortgages to buy homes, increased 5% during the first week of May compared with the previous week, and was 5% higher than the same week one year ago," according to the report.
While it may be a little premature to make solid predictions as to where the market will head, all signs point to a healthy housing market to come, including demand in the market.
“There is a pent-up demand in the market, and we should see a better performing market in the coming quarters and years,” said Lawrence Yun, chief economist of NAR.
Employment rates are reportedly on the way up as well, especially for "adults in their prime working years," according to the report.
To learn more about the leading indicators that have influenced the upcoming home sales forecast for May 2019, click on the image above.