Why More Buyers Are Beginning Early
“Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage,” Realtor.com Senior Economist George Ratiu says. “As millennial’s embrace homeownership and take advantage of this year’s unexpectedly low mortgage rates, demand is outstripping supply, causing inventory to vanish. …The issue is further compounded by the fact that sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.
As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier & earlier. With housing inventory across the U.S. expected to reach record lows in 2020, we expect to see this trend continue into the new year.”
The increase in home-buyers and lack of housing inventory means it’s more important than ever to get pre-approved!
Information via KeepingCurrentMatters.com
Learn more about what fees you as a borrower pay when you close on the purchase of a home or other property, and how much you should budget for them!
There are many misconceptions about the credit score needed to buy a house. You may have more options than you think!
The benefits of homeownership may reach farther than you think! For National Homeownership Month we feature some of the best benefits of owning a home!
There are many benefits to love about homeownership, and they’re not all financial. Being a part of a neighborhood, driving academic achievement, and improving mental health are just a few of these advantages. Check out the chart below to learn more!
