Now is a great time to buy in our market. This fact also makes it a great time to sell.
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Now is a great time to buy a home in our market, and because of that, it’s also a great time to sell. Let me explain.
For the first time in years, mortgage rates are going up significantly. Why? Because the economy is improving significantly. There’s a direct correlation there—as the economy improves, interest rates rise.
If you’re a buyer and you want to get the cheapest financing possible to buy your home, you need to buy now. Freddie Mac is forecasting that interest rates will be close to 5% by the end of the year.
Take advantage of this situation before the spring market hits.
Buyers need to act quickly and start buying homes, but there’s very little inventory available out there. There are more buyers than there are homes to sell, which is what makes now a great opportunity to sell as well. If you list now, you won’t have nearly as much competition as you would in the spring.
Furthermore, according to the National Association of Realtors’ Chief Economist, Lawrence Yun, “The pool of interested buyers at the end of the year significantly outweighed what was available for sale.”
Now is the perfect storm for buying and selling, so if you’re thinking about doing either, take advantage of this situation before the spring market hits.
If you have any questions about the state of our current market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d be happy to help you.
