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3 Reasons Why Now Is a Great Time for Our Market
Manage episode 179502267 series 1379208
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Should you buy or sell a home this spring? I’ll go over three reasons why now is a great time to do either today.
Buying a Lancaster County home? Get a Full Home Search
Selling your Lancaster County home? Free Home Price Evaluation
There are three recent developments that make this spring a great time to buy or sell a home.
First of all, mortgage interest rates have stabilized. Last July, we hit an all-time low of 3.4%. Rates went up after the election and reached a high of 4.31%, but they have stabilized over the past three months. Despite the increase, they are still historically low, making now a great time to buy.
Secondly, employment is up. The U.S. Bureau of Labor and Statistics says that there were 235,000 new jobs in February, and 2.3 million new jobs over the past year. This reflects continued growth in business and consumer confidence over the recent months.
Housing inventory is at record lows.
Finally, housing inventory is at a record low in most price points. February saw a 17.9% drop in the number of homes on the market year over year.
What do these developments mean for you?
If you are thinking of selling your home, you will be able to do so quickly right now, as inventory is low and demand is high. You will also be able to sell your home for top dollar.
If you have any questions about what your home is worth or if you would like to know more about our current market, please don’t hesitate to reach out to me. I would be happy to help you!
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