BUYERS HAVE A WEALTH OF OPPORTUNITY
IN TODAY’S HOUSING MARKET 

Competitive Prices, Low Rates and Affordability Mean Now Is the Time to Act – Don’t Wait! 

Attributes of the current housing market such as low mortgage rates, a large selection of available product and a projected future of growth bode exceptionally well for potential buyers who find themselves favorably positioned when it comes to making a deal on a new home.

“Today’s home buyers have opportunities they haven’t seen in years,” said Bruce Johnson, BDC Building, Design & Construction, Inc., president of the Metropolitan Builders Association. “Housing consumers can now take advantage of the low rates, competitive prices and great buying opportunities in today’s market.”

Johnson noted a variety of reasons that buyers are holding all the cards, including:

• Prices have leveled off, and even declined in some areas, making homes more affordable for first-time and repeat buyers.
• Houses are staying on the market longer, creating a wider variety of choice for home shoppers.
• Mortgage interest rates remain in a very favorable range, near historic lows.
• There is a wide range of financing options available for consumers in all price ranges.
• The economy is solid, job creation is strong, and demographic trends portend strong housing demand in years to come – all of which bode well for long-term house price appreciation

“To some extent, it’s true to say that it is always a good time to buy a home, given the equity-building opportunities and tax savings that homeownership affords and the fact that it’s a more solid investment than almost anything else you can think of,” said Johnson.

“But today’s market is special, in that it’s a much more relaxed atmosphere for buyers than it was when sales were booming. That means you can find the home you want and carefully consider all its attributes before deciding to go ahead with your purchase. This compares to the frenzied atmosphere that prevailed in many housing markets not too long ago, when buyers had to make a snap decision or risk losing their chance of having a winning bid.”

Johnson cautioned those who may be sitting on the fence waiting for the market to head lower. “Those who try to time the market just right in hopes of buying at the very lowest point are likely to lose out,” he said. “First, it’s nearly impossible to predict exactly when the slowing market will start to speed back up again, and in the meantime you’re liable to lose the home of your dreams to another buyer. And second, if mortgage rates head higher while you’re waiting, or some other aspect of your financing changes, you could easily wind up spending more than if you bought now.”

If you want to have the most opportunities in your home purchase, “Now is the best possible time to go for it,” Johnson concluded. “Seldom, in recent history, has there been a more advantageous environment for home shoppers.”