It’s finally fall! The perfect time to shop for your new home. Home sales were on the rise in August and they don’t appear to be slowing down!
- 1. According to Milwaukee Business News, inventory is still low for the year but has continued to increase month-to-month. Many families have stopped looking as school has started. But if you don’t have school-age children, the school year doesn’t matter and you can take advantage of a less competitive market, now is a great time to buy.
- 2. Prices will continue to rise! According to CoreLogic’s latest Home Price Index report, home prices have appreciated by 6% over the last 12 months. The same report is predicting that prices will continue to increase at a rate of over 5.4% over the next year. The market is on its way back to being in full swing. Buy now at a better time.
- 3. Good news for all buyers: mortgage interest rates remain at historic lows! Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained at or below 3.5% for 13 consecutive weeks! However, there is a flip side to this story The Mortgage Bankers Association, Freddie Mac and the National Association of Realtors all agree, rates will increase by this time next year.
- 4. If you are renting or buying a home, either way you are still paying a mortgage. If you are going to be paying a monthly fee, why not put it towards your own equity and financial growth?
- Fall is a great time for buyers! Rates are still at historic lows for mortgages, and it is best to get locked into a great deal while you can! Your Shorewest, REALTOR® is here to guide you through the process! #ShorewestRealtors #BuyingAHome #Fall