For those potential buyers who’ve been sitting on the sidelines waiting for the market to shift… now is the time to buy!
For the past two years, the market has been favoring sellers pretty strongly. Inventory was low, which lead to fierce competition, bidding wars, all-cash offers, and homes selling for way over asking price. It seemed that buyers would never catch a break. But recently, the market has started to shift.
While home prices still remain historically high, we are seeing a big increase in inventory. And, instead of prices continuing to rise quickly and drastically, things are leveling out and slowing down. Because there’s more on the market you’ll run into less of a chance of being stuck in a bidding war.
So, let’s recap – Here are three big reasons why you should buy RIGHT NOW:
- Fewer multiple offer scenarios
- Fewer homes selling above asking price
- Supply of homes for sale is growing
It’s important to also take into consideration that interest rates are only around 5% right now. Which is higher than what we’ve seen recently but still historically low.
If you’ve been thinking about buying your first home but have been on the fence, now is the time to do it.
Buying a home is a great way to build wealth and start your journey to financial freedom. Whether you are looking for your forever home or an investment property, buying a home in the Longmont or Northern Colorado area means you’ll need someone to help you zero in on available properties pronto and to help you move quickly and nimbly. That’s us! Learn more and get started on the Buyer’s Journey here.