We're only a few weeks into the new year, but 2016 is already shaping up to be a perfect year to buy a home! Here's a few reasons why:
Low mortgages ending: Interest rates are at record lows, but they won't remain this low for long! Experts are predicting interest rates to rise in the near future, which will in turn raise mortgage payments and make buying a home more expensive very soon.
Home inventory increase: In many real estate markets across the country, including DFW, home inventory has been far lower than demand, making it ideal for seller's. Buyers are expected to have a bit more luck this year as the number of homes on the market is expected to increase significantly this year. So the days of bidding wars and high home prices may be in the past, giving buyers the upper hand.
Stabilizing home prices: Experts still expect home prices to rise 2%-4% in 2016; however, that is a much slower yearly climb than in recent years. Home prices should soon level off and give buyers tons of incentive to find their perfect home at a more affordable price.
Solid job market: With employment rates up and more new jobs being created every day, the job market is looking very stable in most major cities and surrounding areas. For those that are currently employed, the prospect of keeping a job is good. Confidence in your local job market should play a big factor in buying a home there. If the job market is thriving in your desired area, buying a home is a smart decision.
Have you or someone you know been thinking of buying a home? 2016 is the year! Don't wait until this year's house-buying perks are gone!
Contact expert DFW Realtor, Stacey Perry with Keller Williams Realty, today! She will help you find your perfect home at the perfect price.
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