How many times have you heard this and never acted on it only to regret your inaction later?
I’m sure it’s a lot so don’t make the same mistake again. When we say it’s time to invest in real estate, we mean it. The market has been absolutely booming lately and if you don’t jump in soon, you may not get the best return on your investment.
There are several factors that indicate that it’s primetime to jump into the real estate game. From the mortgage rates to the socioeconomic timings, it is nearly impossible to lose if you start now.
Let’s start with those mortgage rates. Right now, they are at a record low with a 3.08% for a 5/1 adjustable rate, 2.59% for a 15-year fixed rate, and 3.13% for a 30-year fixed rate. These rates have been steadily decreasing since January and don’t look like they’re going up anytime soon.
Not only are mortgage rates incredibly low, consumer confidence in homebuying is coming back strong after an initial hit from nationwide quarantines. Diana Olick, CNBC, reports, “The share of consumers who think it’s a good time to buy a home increased from 52% to 61% month to month, according to the Fannie Mae survey, while fewer Americans said it was a bad time to buy. Renters drove much of that improvement.”
This increase in confidence, mixed with a decreasing unemployment rate and a potential second stimulus check, could be the push to turn renters into buyers.
The real estate market is well on its way to a full recovery with 12 out of 50 of the largest housing markets in the United States have already surpassed the January recovery baseline established by Realtor.com.
Pending sales jumped 44.3% in May compared to April in the US overall and 43.3% in the South specifically. This is the largest jump since the National Association of Realtors began this survey in 2001.
Overall, if you are even slightly thinking about selling, you should go for it. Ashurst Niemeyer has the agents and tools to help make sure you get the best deal possible: whether you’re buying, selling, renting, or leasing. Why do we do it all for you? Because it’s just what neighbors do.
