Housing market change is good for buyers!
1. More houses on the market to choose from. You also have the convenience of thinking about it, which was not the case last year. You had to jump before someone else got it.
2. Sellers are more willing to negotiate contracts. They are coming down on their prices and are more willing to help with closing costs. You can even ask that they help buy down your interest rate on your loan.
3. Interest rates are still low - 5.94% for a 30 year mortgage.
4. Buying a home is still a good investment - Consider this piece of information from the National Association of Realtors: Since record keeping began in 1968, the national median home price has risen every year. In a balanced market, home values typically rise at the general rate of inflation plus 1.5 percentage points. That’s to say nothing of the tax benefits that come with owning your own home.
David Hughes
