Despite the rising costs of homes across the United States, consumer confidence has hit record highs so far this 2018 year. Why is this? A CNBC report accredits this to two key factors. First, buyers believe that prices will continue to increase so they have been more inclined to buy now. Second, there has been an increase in people believing now is a good time to sell.

This past March saw home prices increase seven percent from last year, the biggest jump in the last four years. This shows that prices are increasing at a staggering rate, pressuring buyers to act now before costs surpass their incomes.

Even though millennial homeownership has dipped slightly this year, the 2018 spring season has without a doubt been one of the most competitive housing markets on record.