Why is the Housing Market Heating up?

The housing market is booming in many parts of the country. According to MarketWatch, buyer traffic across the country has been on the rise. But why are buyers scrambling to buy? The impending possibility of rising mortgage rates has many buyers looking to purchase while they can. Low inventory has led to frenzied buying in many areas where affordable housing is scarce. The 2018 tax reform also helped to set up states like Florida as favorable places to relocate. In fact, 6 of the nation’s fastest growing metro areas are in the Sunshine State. With its favorable tax environment and beautiful weather, it is no mystery as to why many are choosing to flee the cold and relocate in Florida.