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Why 2016 Is A Good time To Buy

December 10th, 2015 Written By Carol Pawley

coconutgrovenew

If you are undecided about buying a home, 2016 may be the year to take action.

According to industry experts the following four factors make 2016 a good time to buy:

  • More homes will be available | The slowdown in prices will motivate owners to list their homes. In addition to this, growth in the new home market will boost inventory
  • Home prices will stabilize | Real estate values have been on the rise for a while and according to Zillow’s chief economist, prices are expected to rise 3.5%. This may very well mean that buyers who’ve been waiting for prices to settle down will have the opportunity to take action.
  • Mortgage rates will increase gradually | It is projected that the Federal Reserve will be increasing interest rates. However, even if interest rates go up, buyers on the sidelines haven’t missed their opportunity to get a great deal on a home mortgage.
  • Rents will continue to increase |  In spite of an increment in mortgage rates, in 2016 buying will be more affordable than renting.

 

Great to have you on my site! Seeking to sell or buy property in Coconut Grove, Coral Gables, or anywhere in Miami? I can assist you. Real estate is my area of expertise and Miami-Dade the place I grew up. I know the communities, the schools, the culture, and the business of real estate. I’ve consistently ranked in the top 1% of my field, locally and nationally. I’d love to have the opportunity to introduce myself and discuss your real estate needs. Let’s connect: PH 305-992-6188,EMAIL: [email protected]

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