Three Reasons To Buy A Home This Summer

 

Many buyers have been on the sidelines waiting for the right time to buy a home.  With interest rates remaining high, buyer activity has slowed down.  With the summer buying season now in full swing, now is the time to make your move if you have been waiting for the right time.  Today, we will discuss three reasons you should buy a home this summer.

 

More Inventory: Starting around 2020, inventory has been limited.  Low interest rates drove buyer activity, which led to houses going under contract within one day with multiple offers.  The higher rates have slowed the buyer activity, which is causing homes to stay on the market longer and giving buyers more options.

Less Competition: With buyer activity being slower, the days of multiple offers on the first day are over.  Higher interest rates have many buyers sitting on the sidelines waiting for cheaper money.  With less competition in the market, today's buyers have more options.

More Negotiating Power: Fewer buyers mean sellers are more open to working with a buyer to get their home sold.  This can mean a lower price, the seller being willing to pay closing costs on behalf of the buyer, or the seller being more open to making repairs after the home inspection.

 

The Bottom Line: Whether you are a first-time buyer or a current homeowner who needs a bigger or smaller home, this summer can offer a golden opportunity to make your move.  Let’s get started with your home search today.  Visit our website at www.vanceteamrealtors.com to get started today.