There’s been a dramatic change in the housing market lately, and it’s almost all good news for homebuyers. As we head into the heart of summer, here are a few things to consider:
-There are more homes for sale in 2014, with inventory up 9 percent. Sellers are working harder to get their homes fixed up, so some of these places look pretty good.
-And you have a better chance of being able to buy one, with bidding wars down by double digits.
-More good news, prices have stopped going up so quickly. The predictions are having prices increase by just 6 percent in 2014, making it much easier for you to find a good deal on a home than when prices surged by 13 percent last year.
-And mortgage rates are at 4.1 percent less than half the 30-year historical average of 8.7 percent; for a $500,000 house, this is worth more than $500 a month in mortgage payments.
What The GreenHouse Group agents are seeing is homebuyers who have become more disciplined than before, still pouncing on the A+ homes in the best school districts, but being more careful and disciplined with the up-and-comers.
Leave a comment below or email me directly- Sam Logan