Buying a home can seem like a very scary thing. It is one of the biggest investments you’ll make in your life, but it doesn’t have to be scary to jump in the water when you’re prepared. Predictions from market experts say that inventory is on the rise, and buyers are more eager and ready. Now’s the time!
Interest rates are on the rise, which is a good reason to go ahead and make your move on that house you’ve been eyeing. Realtor.com proposes that interest rates will hit 5% at the end of the year. The longer you wait to buy, the higher rates will go. Home prices are also climbing up, but not so much that you should worry. In the Triangle Market where homes are flying off the market quickly, new construction is at the perfect price point, for now. It’s predicted that prices will increase, but not as rapidly as they have recently.
The market has in past years experienced an inventory shortage, but 2018 is the year for that to change. Predictions expect that inventory will rise, and new home construction will keep expanding. Coming back from the recession means more availability of homes for first time buyers, so builders can offer a lower price point.