There’s a lot of talk in the Idaho real estate market about how we’ve returned to a sellers market; why it’s very much true that it is a great time to sell there are a few good reasons why this year is also a great time to buy!
So much so that we’ve got to encourage you not to wait; here are three big reasons why you may want to consider buying a home before the year is out.
Rates Are Only Rising
Years ago a single digit mortgage rate seemed like an impossible dream. Last year mortgage rates bottomed out at 3.55% and the Federal Reserve decided to bolster this key rate; the rate went up to right at 4%. Over the next few years this trend is expected to continue and rates could be into the 6% zone by 2019.
Inventory Is Shrinking
It’s even made the national news! Available real estate inventory is low, especially here in Idaho! That means listings are moving fast and there’s no guarantee that the home you’re in love with will be available next week or next month. Experts agree this trend is likely to continue and chances are interested buyers will have even fewer homes to choose from next year than they do today.
Home Prices Are Still Going Up
This is one key reason why sellers who have been sitting on their investments are so happy – things are finally leveling out from the real estate bubble years ago. As we have yet to see a real ceiling for increase here in the valley this will most likely continue meaning that they best time to get the best price is very likely right now.
Whether you’ve been thinking about making a move for some time and just weren’t sure, or are looking to make a fast turn around in this liquid market it’s a great time to be in real estate! Our agents have the insight you’ll need to find the properties you want and make an informed decision – we hope that you will consider us when looking for the right agent to make things happen!