Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the
3 Great Reasons to Buy a Home Now
Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.
Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:
· Mortgage Interest Rate
Prices are up, but so are wages – and interest rates have recently dropped dramatically (). As a result, the (NAR) latest report revealed that homes are MORE affordable throughout the country today than they were a year ago.
Mortgage rates have dropped almost a full point after heading toward 5% last fall and early winter. Currently, they are below 4%.Additionally, recently the average rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019. That compares to a 4.4% average rate in the first quarter and 4% in the second quarter.
With mortgage rates remaining near historic lows, and have increased their forecasts for housing appreciation for the rest of the year. If home price gains are about to re-accelerate, buying now rather than later makes financial sense.
The longer you delay purchasing a home, the longer you are waiting to put the power of home equity to work for you.
With affordability increasing, mortgage rates decreasing, and home values about to re-accelerate, it may be time to talk with a local real estate professional to determine if buying now makes sense for your family.
Wife, Mom, USMC Veteran, Realtor. Whether you are looking to sell your home, buy a new one, or invest in an old one, I am here to help you!....
Latest Blog Posts
Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner