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I know there are a lot of mixed messages out there about what’s going on in the real estate market right now. The biggest reason for this is because the market here is hyperlocal. What’s true in one neighborhood isn’t necessarily true in the next. We’ve been seeing rates fluctuate lately on a national level and they’re down to 4.35% to 4.5% right now, which I learned after talking to my lender. That’s good news for affordability.
It all comes down to when a move best works for you. With interest rates fairly good right now and a stable economy, you’re getting a good bang for your buck with a home purchase right now. Interest rates aren’t 3% like they were a few years ago, but it’s not the 5% it was earlier this year.
If you’re a move-up buyer and looking to make a move into the luxury market, you have plenty more choices now to help you determine what decision is best for you.
Townhouses are moving, first-time buyers are becoming more prevalent, and consumer confidence in home buying is high. If you have any questions about the market, your specific market, or anything else related to real estate, don’t hesitate to reach out and give us a call or send us an email. We’d be happy to assist you.