Home affordability is at an all-time high. The median mortgage payment on the median priced home, as a percentage of the median household income, is lower than it’s been in a generation!
Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upwards, monthly payments and total loan costs will spike upwards.
Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time get in to the market is NOW!
Sellers are motivated. Home owners have been eagerly awaiting the market to turn, allowing them sell their home for close to what they paid. The current market is finally allowing sellers to achieve their goal of selling their current home and moving on.
Financing is readily available! Banks are back in the game and ready to lend to well-qualified buyers.
Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years.
Homeownership is still at the core of the American Dream! Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live and a fabulous tax deduction.