Welcome to the Home Buying Season
Is there such a thing as a “home buying” season? Yes! Many parts of the country do indeed experience certain times of the year that are more conducive to home buying. We’re here to help our clients during this process and wanted to point out a few things to consider when home searching.
During the winter months, housing inventory slows and comes booming back in the spring and summer months! Not only are there more homes to select from but there are also more buyers to choose them. During this time the market is experiencing an uptick in demand with a healthier economy. In fact, according to a monthly index published by Redfin, home buying demand increased 23 percent year-over-year from January 2016 to 2017.
If you are considering purchasing a home be sure to consider the following:
1.Research, research, research! Find information on the area that you want to live in, what kind of home you’re looking for and recent trends in home sales. Having this information in your back pocket will help streamline the home buying process and have you one step closer to your dream home.
2.Set a budget. Reach out to a Nations Lending mortgage advisor and determine what you can afford. This will help put realistic parameters around your search and help avoid roadblocks.
3.Understand the housing market. Home prices are continuing to rise due to urban renaissances across the country. Talk to your mortgage advisor to get a better understanding of the housing marketing and find the best financing plan for your home.
With the economy on an upswing and the job market improving, there is an increased demand for homes. Since a home is often one of the largest investments a consumer will make, an upbeat economy makes it an optimal time to seal the deal.