You think about it at work, you imagine what it would be like to turn the key and open the door to your dream home. This is the house that you have been dreaming about for years and it is finally within reach! The only thing holding you back from buying a house is hesitation. You can stop dreaming about it and start living in the house of your dreams. After a long and painful downturn, the housing market has finally stabilized. Industry experts have pointed to many reassuring signs for the year ahead for home buyers. The job market has improved, and there are moderate increases in sales and prices. More houses are being built. The gains might not be as big as they have been for the last two years, but as local housing markets stabilize, the timing for buying a house has never been better.
After an avalanche of foreclosures and short sales that over-saturated the market during the housing decline, many of the markets across the country have finally started to recover. In fact, it has stabilized so much that the National Association of Realtors forecasted home sales would be 7% higher than the previous year.
The sales of houses are rising moderately.
Mortgage rates are rising, indicating a healthy real estate market. More people are looking to buy a home leading to an increase in home sales this year. After so many years of recessed prices, many homeowners have recovered much of the equity that they once lost. It is a good time to check home listings comparable to your home to see if it is the right time to sell your current house. It may also be the time to buy a house that is perfect for you. This year the demand will continue to outgrow the supply. So we know that the market is, and will continue to be stable for many years to come.
Housing demand will go up.
There are over 83 million millennials, that accounts for a quarter of the U.S. population. Studies show that people within this demographic are moving out of their parent’s houses, settling down and having families. This creates extra demand on the housing market that we will see for many years to come, which is expected to further drain the supply of an already dwindling housing inventory. The market is looking great and you won’t find a better time to buy a house.
You have worked hard and saved diligently. You have had your eye on the home listings. You know what you want because you have confidence and are sure-footed about your decisions. You know that the time is right to buy the property of which you have been dreaming. Just close your eyes and imagine it, you can smell the grill, hear the laughing of friends and family, and see the house decorated beautifully during the holidays. You can envision the next thirty years of your life all playing out in your mind, and no you aren’t imagining that. Watch as your dreams become reality right before your eyes.