Current Buyer & Seller Perks in the Housing Market

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding perks in the housing market for buyers and sellers.

The most impressive buyer incentive today is the average mortgage interest rate. Just last week, mortgage rates hit an all-time low for the eighth time this year.

The 30-year fixed-rate is now averaging 2.88%, the lowest rate in the survey’s history, which dates back to 1971:This is a huge advantage for buyers.

To put it in perspective, it means that today you can get a lower rate than any of the past two generations of homebuyers in your family if you decide to purchase at this time.

This is a great perk for buyers who are hoping to potentially get more for their money in a home, something many are considering today as they re-evaluate the amount of space they ideally need for their families.

It is an opportunity not seen in 50 years, and one not to be missed if the time is right for you to buy a home.

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.

The lack of inventory has been a challenging situation for a while now, and with low mortgage rates fueling buyer demand, inventory is even harder for buyers to find today.

Buyers are eager to purchase, and because of the shortage of homes available, they’re encountering more bidding wars. This is one of the factors keeping home prices strong, an advantage for sellers.

With low inventory and high buyer demand, homeowners can potentially earn an increasing profit on their houses and sell them quickly in this sizzling summer market.

Bottom Line

Whether you’re thinking about buying or selling at home, there are some key perks available right now. Let’s connect today to discuss how they may play to your advantage in our local market.

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