Are buyers still in a good position to buy this fall?
Now that summer has come to an end and fall is here, what are the experts saying about the housing market for fall 2022 for buyers? The question is this, is it still a good time for me to buy? Well, the short answer is yes!
Hi, I'm Stephanie Martenzi, supermom, superagent with Southland Properties, here to tell you the fall housing market looks promising for buyers.
According to the Housing Economist for Freddie Mac and I quote, "After the end of the summer lull, and as mortgage rates stabilize, we may see a return of buyers and a relatively strong fall housing market." While interest rates have gone up much to the buyer's advantage, they are still historically low. And along with increased inventory, more options continue to become available to home buyers in a market that is still competitive, but not one where a home buyer is continuously outbid. This, in turn, gives buyers the opportunity to purchase while experiencing seller concessions that may not have been available the last couple of years. This can include closing cost credits, buy downs for rates, and sellers covering cost of repairs.
Also, if you are considering buying, please consider this short list of things to concentrate on to put you in a better position. Your credit score, personal savings, down payment, and your debt-to-income ratio and loan types. Combined this with more inventory, you as a home buyer are in a better position to purchase, and may have more room for negotiations depending on what the home was originally listed for.
But as always, consult your experience real estate professional for expertise, insight, and market updates. Experience in this kind of market is now more important than ever.
Please feel free to reach out to me today so I can better serve you through this buying process and help you find the home of your dreams.
This is Stephanie Martenzi, supermom, superagent with Southland Properties here to help you have a super fun, empowered, and informed real estate experience by guiding you every step of the way. If you see me out in the community, make sure to say hi.
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