Thinking about making a move? There may be more reasons than you think to speed things up.
Spring is usually the most active season in the housing market. Many people wait until spring to make a move, thinking it’s the best time to buy. However, when you factor in the added competition, this is not always the case. If you’ve been contemplating buying a new home, keep reading to learn why it makes sense to move before spring.
First, spring will bring a wave of new buyers to the market. Historically, winter is a quiet point in the year, whereas spring sees more and more people making a move. Experts predict this year will be no exception.
Currently, buyer demand is low due to normal seasonal trends and a reaction to last year’s mortgage rate hikes. But rates have decreased since last November, meaning more buyers will jump into the market. This means right now is the perfect time to buy — before a wave of buyers appears.
Moreover, today’s sellers are especially motivated. Low buyer demand often gives sellers an incentive to work with you. This is great because it allows you to make a move on your terms. In fact, according to Forbes, sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter of last year.
However, keep in mind that these current buyer advantages won’t last forever. The competition will ramp up during the spring season, so if you wait to make your move, you could be paying more than you would if you buy now.
In conclusion, if you’re in the position to buy soon, we encourage you to start the process. But you should never go it alone when it comes to buying a home. If you would like to strategize about your next move, contact your local agent at SurterreProperties.com today.
Source: KeepingCurrentMatters.com
