The National Association of Realtors (NAR) reported a decrease in the number of homes currently on the market which indicates that supply and demand are slowly reaching equality.
We are coming out of the buyer's market and sliding into normalcy. This would indicate that list prices won't go much lower; if anything they will being to increase again. The bargains available today won't last much longer.
New home construction has slowed over the past year since the inventory of homes available for sale had grown to a 10.2 month supply last summer. The resale market is going to get hot again and new construction will follow to keep up with the demand.
How many times to buyers need to be told this is the time to buy? How many parties will you attend next year and hear the same stories - "I could have bought that waterfront home at a steal and I just waited too long. Now it's $100,000 more!"
Interest rates have been lowered again. Call your mortgage professional today, find out what your rate will be and get pre-approved. Make an offer as soon as possible.
Go on! Get going!!
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Landmark Real Estate Specialists
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