This summer will see the housing market having its best performance in a decade, according to Realtor.com chief economist Jonathan Smoke.
In a piece for CNBC, Smoke wrote that the real estate market is at its "strongest...since the housing boom." Smoke pointed to May sales data that showed a 6 percent year-over-year increase, numbers that were substantiated by Case-Shiller. Coupled with unemployment rates declining and a a slow pace of housing construction, existing home prices are likely to continue their strong positive trajectory.
Plus, recent economic uncertainty in Europe has driven interest rates lower, allowing more buyers to access credit.
"As for now," Smoke wrote, "we have a nearly perfect scenario that sets us up for the best summer for residential real estate in a decade."