If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options.
Experts agree, buyers are in a better spot right now than they’ve been in quite a long time. Here’s what they have to say.
Affordability Is Finally Improving
Lisa Sturtevant, Chief Economist at Bright MLS, says affordability is finally starting to turn the corner:
“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
Mortgage rates have eased from their recent highs, price growth has slowed, and that one-two combo is making homes more affordable than they’ve been in months.
There Are More Homes on The Market
And a big reason prices are easing is because there are more homes on the market. According to the latest from Realtor.com, there are 17% more homes for sale today than there were at this time last year. That means more options, less competition with other buyers, and a chance to find the space that actually works for you.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:
“Homebuyers are in the best position in more than (click "Learn More" to finish the article)...
