Welcome To The Spring Housing Market: 4 Reasons To Buy This Spring

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Spring Has Arrived & So Has The Spring Housing Market:

4 Reasons To Buy A Home This Spring

 

Welcome to spring and welcome to the spring housing market. If you've been thinking about buying a home in the Charlotte region this spring, here are four good reasons to do so and not to wait:

 

1. Home Prices Will Continue to Rise

CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.

With no relief in sight for rising home prices due to low inventory, the longer you wait to purchase a home, the more it will cost you to buy one if you wait, especially in the Charlotte region where home sale prices have steadily risen for years.

 

Charlotte Region Average Home Sale Prices Have Steadily Risen since 2016

 


2. Your Purchasing Power Will Diminish As Interest Rates Increase

Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are all projecting rates will increase by this time next year.

An increase in rates will impact your carrying cost for a new home if you wait to buy. Coupled with the steady home price increases your cost to buy and own a home increases and your purchasing power diminishes.

Home purchasing power dimishes as interet rates increase


3. Either Way, You Are Paying a Mortgage... Why Not Build Your Equity & Wealth Instead?

Often renters say they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As a home owner, your mortgage payment is a form of ‘forced savings’ allowing you to build equity in your home that you can tap into later in life. As a renter,  your landlord is the person who benefits from that growth in equity. The graph below clearly shows the potential growth in family wealth over the next five based solely based on an incerase in a home's equity. And clearly, the higher-priced a home is, the greater the increase in relative equity.

 

Increase In Family Wealth When Owning A HOme

 

 

4. The Cost Of Renting Versus Buying

Have you considered what your cost of renting is versus buying a home? The video below clearly shows that your cost of housing is less when you buy in many markets and you also get to fix your housing costs for years, which you can't do with rent.

 

 

 

 

If you're  thinking of buying a home this spring season, check out our FREE

Spring 2019 Buyer Guide: Things To Consider When Buying A Home

 

Spring 2019 Home Buyer Guide

  

 

SEARCH ALL CHARLOTTE METRO AREA HOMES

  

Search for Charlotte area homes at GreatHomesInCharlotte.com

 

 

We've been opening doors for Charlotte region home buyers and sellers for 20+ years. Whether you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:

 "The Right Broker Makes All The Difference."

 

Great Homes In Charlotte

 

 

First published at:   https://greathomesincharlotte.com/buying/4-reasons-to-buy-a-home-this-spring/ 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Oh by the way, I'm never too busy for any of your referrals!

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Topic:
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Groups:
Charlotte NC Real Estate
Buyer Information - What Buyers Need to Know in Today's Market
Advice for Buyers
Tags:
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spring housing
spring housing market
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4 reasons to buy a home this spring

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Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS thanks, Paul. And I am having an awesome week... the girls are here to celebrate my birthday and very good friends arrive on Friday from Connecticut to help me keep celebrating through the weekend! Then it's time to get serious and get back to work.

Mar 21, 2019 03:47 AM #19
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dorie Dillard CRS GRI ABR thanks, Dorie... of course that was the whole idea to tie in the first day of spring with a message to buy this spring.

Mar 21, 2019 03:48 AM #20
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

John Pusa thanks, John, for the birthday wishes... and thanks for stopping by. Wishing you a great rest of the week.

Mar 21, 2019 03:49 AM #21
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hannah Williams thanks, Hannah for the lovely comment. You'll be happy to know that our daughter is setting up my computer today with Amazon Prime so I can watch the Mrs. Maesel.

Mar 21, 2019 03:50 AM #22
Rainmaker
2,542,810
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Hopefully people will call you today to wish you a happy birthday and say by the way, I am looking to purchase a home in the Charlotte area too!

Mar 21, 2019 07:25 AM #23
Ambassador
1,849,592
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Yes, Spring is in the air - and you give buyers in the Charlotte area valid reasons to buy now. Agree with all the the fabulous comments - you do this so well. 

Mar 21, 2019 09:08 AM #24
Rainmaker
1,916,535
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina Hollander - I know that I am not the first but I want to stop by to say Happy Birthday.

Mar 21, 2019 10:44 AM #25
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Had to stop by again...

                                 

Mar 21, 2019 10:53 AM #26
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kathy Streib thank you, Kathy! I'll take all the good birthday wishes I can get!

Mar 21, 2019 01:37 PM #27
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider thanks, Grant... appreciate the good wishes. At the end of the day it doesn't matter if one is first, last or in the middle.. all good wishes are gratefully accepted!

Mar 21, 2019 01:38 PM #28
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD hi Debb... thanks for the compliment... I hate reading things that feel as if they haven't been well thought out, so try very hard to present things in a way that people can follow easily.

Mar 21, 2019 01:39 PM #29
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England that would be a great birthday present, Brian... but so far no dice!

Mar 21, 2019 01:40 PM #30
Rainmaker
1,521,497
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Nina, the cost of waiting is high and you highlight multiple reasons now is the time to buy. Excellent post as always. You are so knowledgeable and anyone who works with you is setting themselves up for a successful real estate transaction. 

Mar 22, 2019 06:07 AM #31
Rainmaker
5,374,934
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers want to take advantage of the very attractive mortgage interest rates.

Mar 22, 2019 06:16 AM #32
Rainmaker
2,497,566
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Great post, Nina and now is definitely time to buy! I remember when I first moved to the DC area a friend said I should buy instead of renting...Oh if I had only listened then  :(

Mar 22, 2019 06:28 AM #33
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Rebecca Gaujot, Realtor® I feel your pain, Rebecca. When I lived in San Francisco the market was very depressed and I was afraid to buy. Two years after I left it exploded!

Mar 22, 2019 06:43 AM #34
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley those home buyers should be locking in their mortgage rates sooner rather than later!

Mar 22, 2019 06:43 AM #35
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Amanda S. Davidson thanks, Amanda! I feel very strongly about this as affordability keeps decreasing even in an affordable area like Charlotte and I've had a couple of clients who've now been priced out of the market because they didn't make the move two years ago.

Mar 22, 2019 06:45 AM #36
Rainmaker
2,017,044
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nina Hollander - I didn't know you had a birthday! By the looks of your photo, you haven't changed a bit! I'm sure I would say the same if I met you in person.

Happy Birthday, Spring Lady! You must have made quite an entrance into this world when you were born!

Mar 22, 2019 07:45 AM #37
Rainmaker
3,087,657
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP thanks, Patricia. Well, I do have one of those birthdays every year... although this year I was simply celebrating the 35th anniversary of my 35th birthday. Everyone seems to recognize me from my photos, so I think you'd recognize me, as well. Don't know about my entrance into this world, but I have been trying to make an entrance ever since! 

Mar 22, 2019 10:16 AM #38
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