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Summer 2019 Is A Great Time To Buy A Charlotte Area Home You'll Love
3 Top Reasons Summer 2019 Is A Great Time To Buy A Charlotte Area Home You'll Love!
1. Home Prices Will Continue to Rise
CoreLogic's most recent US Home Price Insights report shows that home prices have appreciate 3.7% over the past 12 months. This report also predicts that prices will continue to increase at a rate of 4.8% in the coming year.
In the Charlotte region, through May 2019 average home sale prices have increased 3.6% year-to-date, while median home sale prices have increased 4.5% year-to-date. Housing affordability is down 5% in the Charlotte region 2019 year-to-date. Meantime, inventory of homes for sale continues to decrease.
With home values continuing to appreciate and buyer demand continuing to exceed the supply of homes for sale, waiting to buy a home or to upgrade to another home might no longer make sense.
2. Interest Rates Are Projected To Increase
Most experts predict that rates will rise over the next 12 months, even if more slowly than initially thought earlier in the year. The Mortgage Bankers Association, Fannie Mae, Freddit Mac, and National Association of Realtors® (NAR) all project higher interest rates by summer 2020.
An increase in rates will impact your monthly mortgage payment. A year from now, your housing ... more
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