Have you been priced out of the housing market or discouraged by the fierce competition? You’re not alone. But there’s good news! The second half of 2024 is shaping up to be a much better time for homebuyers.
Here at Corner House Realty, we understand the struggles you’ve faced. Here’s why you should dust off your home search and consider jumping back in:
1. More Homes to Choose From: Remember the days of bidding wars and limited options? Those might be fading. The supply of homes for sale is on the rise! This means a better chance of finding a home that ticks all your boxes, whether it’s a charming fixer-upper or a move-in ready haven.
2. New Construction Boom: Builders are getting in on the act, too. There’s a surge in new construction, particularly smaller, more affordable homes. These address the long-standing need for accessible housing and could be the perfect fit for your budget. Plus, some builders offer incentives like reduced mortgage rates, making homeownership even more attainable.
3. Less Competition, Less Stress: Mortgage rates might still be higher than historical lows, but that’s actually a good thing for you! It means fewer buyers are vying for the same properties. This translates to less intense bidding wars and potentially a smoother buying experience. As Danielle Hale, Chief Economist at Realtor.com, says, “Home shoppers…could see better conditions in the second half of the year.”
4. Price Moderation: Home price appreciation is finally slowing down! While prices are still rising, it’s at a much more manageable pace compared to the past few years. This means you’re less likely to face those jaw-dropping price increases that seemed to happen overnight.
Don’t Miss Out!
The second half of 2024 presents a unique opportunity for buyers. The market is shifting in your favor, with more choices, less competition, and price stabilization. However, waiting has its risks. As the market adjusts, competition could pick up again, especially if mortgage rates decrease as predicted.
Take Action Today!
Ready to make your dream of homeownership a reality? Contact us at Corner House Realty. Our experienced agents will guide you through the current market landscape and help you find the perfect home for your needs. Don’t miss out – this could be your chance to get ahead of the curve and secure your place in the ever-changing housing market.