With every new year comes new opportunities. And this year there are a couple of reasons why I, as a local Realtor, believe you should look into buying a new home.

Lowered prices

Although the past couple of years real estate prices have been rising, 2016 is predicted to show a 3.5% increase in home values. This will give buyers a chance to grab a home at a more affordable rate, possibly leading to an abundance of buyers.

Increased supply

With the market growing this year, builders will boost home inventory with more starter and middle-range homes, contributing to continued lower prices. And sellers will add to the inventory after the past price appreciation.

Last of the low mortgages

The Federal Reserve has been planning to increase interest rates, so now is the time to get in on the last of the low mortgages before that happens.

High rent

Rent is predicted to rise even higher than the current prices, making buying the better choice despite rising mortgage rates.

Buying a home in 2016 gives you a great opportunity for appropriately priced real estate before mortgage rates start to climb again.

Article Citation: Vasel, Kathryn. (December 4, 2015.) “4 reasons 2016 is the year to buy a home” CNN Money. Retrieved February 15, 2016 from: http://money.cnn.com/2015/12/04/real_estate/2016-real-estate/index.html?iid=EL.
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