Why it still makes sense to purchase a home—even in this market.
“Is our market crashing? Does it even make sense to buy a home right now?” We get these questions all the time, and to be honest, we understand why. There’s a lot of doom and gloom in the media right now about our housing market, but that doesn’t mean it’s accurate.
The truth is that our market has seen a decrease in activity recently due to higher interest rates. This may sound like the start of a market crash, but prices have remained fairly steady since our inventory is so low. In other words, while demand is low, so is supply. The end result is a fairly balanced and steady market that doesn’t aggressively favor buyers or sellers, which means you can absolutely still get a great deal for a home if you work with the right people.
Plus, the end of the year is always great for investment opportunities. Sellers are more motivated because they want to move before the new year, so they may be willing to pay for an interest rate buydown that could lower your rate by 2% for the first two years of your loan.
The bottom line is that there are always deals to be made at the end of the year in real estate. The news isn’t always plugged into what’s really happening in your market like local experts are, so give us a call or send us an email if you have any questions. We look forward to hearing from you!