Market update for homebuyers – September 2019

I will start off with the most important thing for you to take away from this update.  NOW is the time to get a house.  Mortgage rates are at their highest point in 7 years and are continuing to go up so the cost of the money will not be going down.  However, we are finally starting to see some more inventory for houses come on the market.  This is the reason you aren’t seeing houses gone in one or two days anymore.  There are finally some extra houses for people to look at.  This is a typical trend late in the year from September to October.  This additional inventory means buyers will have a more optimal negotiation with sellers making this the BEST part of the year to buy throughout Massachusetts.

What happens if you wait until Spring?  Later this year when the snow is flying many houses will come off the market in preparation for Spring.  Then they will get put back on at a higher price at that time.  Since that is the beginning of the hottest time of the year to buy (closing prices peak in summer from sales negotiated in the spring) the price of the house will be up and there will be more competition for the home.

Thinking now is the time to buy for you?  Let us know and we can refresh your pre-approval, run new numbers for you, or if you are a new client we can help get you into position to find the next home for you.

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