Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top 2 to keep on the radar this season.
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The Biggest Perk for Buyers: Low Mortgage Rates
Today’s most compelling buyer incentive is low mortgage interest rates. The 30 year fixed rate is now averaging just over 3%. While that’s slightly higher than the record lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers.
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The Biggest Perk for Sellers: Low Inventory
Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. The average house is now receiving 4.1 offers and is on the market for only 20 days. Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process.
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Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Contact us by DM or phone at 480-788-4118 to discuss how these favorable conditions play to your advantage
Awni and Chantell
Realtors specializing in Real Estate Investing
Sell • Buy • Invest • Multi-Units • Lease • Landlord
480-788-4118
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