What has been for years, an ideal buyer’s market, is rapidly becoming a seller’s market that could sink buyer’s plans to purchase their dream home. When you consider the profound change in conditions, it’s easy to appreciate that it’s going to be rough seas ahead for buyers that delay purchasing. Consider the following:
The lowest rates in history are giving way to rapidly rising rates that impair a buyer’s ability to get the most for their money.
After years of deep discounts available on under valued homes, double-digit appreciation is also having an impact on housing affordability.
After years of an abundant supply of homes to choose from, buyers are finding it much more difficult to secure the ideal home as the selection continues to dwindle.
As positive signs of recovery become more and more evident, home sellers who were once anxious to consider any offer, are becoming more resistant to negotiating as each day passes.
Buyer competition stemming from greater populations, a dramatic increase in the number of households, retiring baby boomers, and existing home owners who are finally able to sell their present home to buy another, promise to male matters even worse for buyers in the future.
The dark clouds that are gathering over buyers could sink the plans of owning the perfect home or dream vacation home FOREVER!
The time to buy is now!