It’s Still a Great Time to Buy a Home…But for How Much Longer?

Home affordability continues at record levels while 30-year mortgage rates have averaged below 4% for 15 consecutive weeks now based on Freddie Mac’s most recent Primary Mortgage Market Survey. As the economy shows signs of improvements with decreases in unemployment and increases in consumer confidence, one can only wonder how much longer before the current buyer’s market begins to change again.

Based on strong home sales during January, industry experts are beginning to see a turnaround in median home values. A housing survey released by RE/MAX “shows home prices in February rose 1.1% from a year earlier and 1.4% from January to $171,881.” What is more, analysts are anticipating a very active spring and summer selling season this year.

So, what are you waiting for? Get out there while interest rates are low and great deals are still to be had!

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