Top 3 Reasons That NOW Is The Time To Sell or Buy A Home
According to a recent article on RISMedia, the top 3 reasons that now is the right time to sell or buy a home are:
1. Rising Home Prices: Home prices are inching upward at an accelerated rate. Since price is likely the most significant consideration most people have when selling or buying, this is important. If prices continue to rise, and you buy now, your equity will begin to build as soon as you close. And home prices ARE projected to increase. This is great for first time Buyers and for Sellers looking to upgrade or downsize.
2. Low Mortgage Rates: Yes, interest rates did go up almost a point so far this year, but they are still super low! And the gurus are projecting that they will go up even more over the next year. NOW is the time to get locked in. For Buyers, now is the time to find that home. For Sellers, the buyers are out there shopping. Get your house on the market and take advantage of low rates when you make your purchase.
3. The Re-emergence of New Construction: Builders are building again, but not at the rate they built in the mid 2000s. Land costs more, materials cost more, labor costs more. New home prices are going up, too. Buying today may be your best option because the cost of new construction homes isn't likely to decrease. For Buyers, if you want new don’t wait. For Sellers, as new construction continues to increase it will present additional competition. Get your home on the market now before new construction gets in full swing.
Regardless of what is happening in the market today, tomorrow, or a year from now, real estate is almost always a good investment for the long term. This is a great time to find the house you love!