Consumers’ confidence has been on the rise and many people are saying that it’s a great time to buy. Inventory is increasing, which reduces buyer’s concern that they’ll end up in a multiple offer situation as we saw in the past years.
We see that over $300,000 there is a slowdown in the market and buyers have a better opportunity of negotiating at that level than under $250,000 mark. If the price and condition of the home are where they need to be, it doesn’t matter the price, the home will sell quicker than others.
More than 20 million net new jobs have been added and the average wage has increased 3.5% to $23.18 per hour. This increase has affected the ability for buyers to enter into the real estate market to make their home purchase.
Consumer confidence is following this trend.
According to the National Association of Realtors, “37% of consumers strongly believe now is a good time to buy. Low mortgage rates help. Buy a good economy and more inventory are also boosting consumers’ outlook.”
Buyers are relieved to hear that the Federal Reserve has planned to keep interest rates low for the remainder of the year. This gives new homeowners the opportunity to lock in to a good rate as they look to make their new home purchase.
This is all good news, but we still need moderately priced homes for buyers. There are still great opportunities out in the market so contact Waypointe Realty, your local experts, to help you find the right home.
If you’re ready to buy your home this year, give us a call or text to schedule your buyer consultation and start the process at 407.801.9914!