If you are currently renting or on the hunt for a new real estate property in Central Florida you may ask yourself if now is the right time to buy. Let me tell you why I think today is better than ever to purchase your new home.
In today’s markets interest rates are lower than they have ever been and U.S. home sales rose in July to a 10-month high. This can be partly due to the fact that there were lower borrowing costs and an increase in inventory. The existing home sales climbed 2.4 percent to a 5.15 million annual pace- this is the most since September. According to the National Association of Realtors the number of homes for sale were the highest in almost two years. These numbers can be attributed partly to the employment growth, rising property values, and the decline in the consumer debt. The Median home price also rose 4.9 percent to $222,900 in July from $212,400 just a year ago. Another reason its a fantastic time to buy is borrowing costs are lower than ever. The average 30-year fixed rate mortgage was 4.12 percent in the August. This is down from 4.53 percent at the start of January.
Like many home buyers you are probably overwhelmed and don’t know where to begin in finding your dream home. Let Central Florida Prime Real Estate help you find the perfect home. Because purchasing a home could end up being one of the biggest investments you will ever make it is important to take your time an consider all options. There are many factors that come into play when purchasing your home- choosing the right time of the season can help you get the best bang for your buck. According to a study by RPData it is shown that 26.6 percent of home sales take place during autumn, 25.4 percent take place during spring, 25.3 percent take place during winter and only 22.7 percent happen during the summer.
Don’t wait until rates start rising buy in todays market condition!