As many real estate agents know, despite breathless media reports to the contrary, the decision to buy or sell a home doesn’t hinge on just one factor, like interest rates or price appreciation. Rather, consumers should look at the intersection of many different data points to determine when the time is right for them to make a move in the housing market -- and experienced agents who are aware of and keep up to date on these factors are proving themselves invaluable to their clients. What do clients want to know? As spring continues its thaw across the country, the housing market, too, begins to heat up. Many potential clients will start to consider whether the time is right to purchase a home. They’ll be asking: Is this a good time to buy a house? Are homes affordable right now? Is mortgage credit available? The answers, of course, depend on a number of variables: individual consumers’ own personal financial status, geographic location and the type of hou...
- Experienced agents who keep up to date on many different data points to determine when the time is right for consumers to make a move in the housing market are proving themselves invaluable to their clients.
- Price appreciation is typically favorably received by homeowners who like to see their home equity growing, but it can present issues for potential homebuyers, especially when rising prices start to influence affordability.
- The good news for many consumers is that, although credit remains tight, it is getting better, and more and more lenders are creating a diverse range of loan programs to help an array of credit profiles.