Good Time for Home Buyers
The home buying market is excellent - for home buyers, not sellers, that is. That’s right, a hugely increasing supply of for-sale homes is translating into flat prices, and unfortunately for sellers, a long wait on the market to sell their homes to a buyer.
This is all according to the National Association of Realtors’ report for the month of June, demonstrating in statistics that new and used home sales fell to the lowest point since this past January while home pricing gains are the smallest in over ten years. Even though home loan interest rates aren’t “the greatest” right now, prospective home buyers might be finding themselves some of the best deals in months.
Again, good news if you’re a buyer right now, horrible news if you’ve got a home on the market. I see examples of this in my area even. Homes are for sale all over the place, literally, and some have been on the market over a year, with the owners sometimes paying two mortgages and struggling to make ends meet.
