First-time buyer? Looking to move to a new home?
Now is a great time to purchase that dream house you’ve been eyeing for!
We can’t help it, we usually bring more focus on the home price when we say affordability. Affordability is composed of 3 things: Price, Wages, and Mortgage Interest Rate.
When home prices are up, so are wages, however, interest rates have recently dropped dramatically. The National Association of Realtors’ recent report said that HOUSES ARE MORE AFFORDABLE NOW compared to the prices last year. And with mortgage rates remaining low this year, therefore buying a house now rather than waiting makes 100% 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 continuing to increase, mortgage rates decreasing, and home values about to re-accelerate, it makes perfect sense why it’s time to make a move.