Is now a good time to buy? That’s the big question of the moment—but it’s my job to help you answer it. This month, whether you’re buying or selling, the name of the game is to stay the course.
If you find the right house for you and it’s within your budget, it’s definitely a good time to buy. Prices will settle, and interest rates will continue to fluctuate, but you can refinance if rates drop again, and your home will appreciate in time.
I’m keeping an eye on local and national trends to help you better understand what’s happening. Here’s what I’m seeing in the market from the four weeks ending May 25th
What Buyers Need to Know
- Inventory is still low, but new listings are hitting the market almost twice as fast as they were last year, which means you may soon have more homes to choose from.
- While more than half of homes sell for above their list price, nearly 18% had to drop their list price in the last month. I can help you find homes that may have room for negotiation.
- Though we’ve seen mortgage rates fluctuate slightly, they’re likely to remain above 5% this year. If you’re interested in hearing more about each of your financing options, I can connect you with your local Bay Equity mortgage advisor John Castilone. You can reach him at 239-900-5209
