According to Trey Garrison, a senior financial reporter for HousingWire.com, a survey of Lenders One Mortgage Bankers is calling for 2016 to be a Seller's market.
A Seller's market is said to exist when there are more buyer's actively in the market than there are homes for sale. It boils down to the principles of supply and demand. When demand is high and supply is low, the price of homes for sale will increase.
A Seller's market, coupled with the threat of an interest rate hike by the Feds, could mean delaying your home purchase until 2016 might result in you paying more for that dream home.
Our best advice at Advantage Build LLC is to talk to your mortgage broker NOW. Get their perspective on the interest rate trends in the mortgage industry. Find out what you qualify to borrow and get an estimate of your monthly mortgage costs. Then, give us a call to discuss what's currently on the market or the possibility of building a new home to capitalize on the historically low interest rates we've been experiencing.
READ TREY GARRISON'S ARTICLE HERE
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Advantage Build LLC Real Estate can help you buy, sell or build your next new home! Call us at (336) 601-7259 or email us at advantagebuildllc@gmail.com.