The market continued to show signs of improvement with more new Pending Sales this week than the previous week. The news was not all positive, however, as the number of Active listings also increased.
So, in the face of bleak economic news, and mixed real estate indicators, you might be asking yourself, “Why buy now?” Here are several good reasons why it might make sense for you to buy now.
Inventory levels are at record levels which means it is definitely a Buyer’s Market. Many sellers cannot afford to wait until prices improve, so this is a great time to wheel and deal. Even developers on new projects are slashing prices and offering incentives such as credits for closing costs and optional upgrades.
Interest rates are on the rise, so if you are getting a loan, your eventual cost will most likely be higher in the future.
Real estate is a long term investment. Ask anyone who bought a home 20 years ago, and almost without exception, they will say that it was a smart move. Even given the ups and downs, over the long term, real estate has proven to be an excellent investment vehicle.
Purchasing a home is first and foremost about lifestyle. Yes, it is important to take in to account financial factors, but also think about your family, your job, and what would bring you the greatest happiness.
Have a great week!
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