Is Now a Good Time to Buy a Home?

Posted by Concierge on Thursday, August 15th, 2013 at 4:12pm.

Are you wondering if now is a good time to buy a home?

With the recent history of the housing market dive, many waiting to buy a house have hesitancy in buying a new home.  The housing market is making (or some would say has made) a comeback all across the United States in the last year.  Foreclosures are down and inventory is decreasing in cities, particularly in hip urban communities where multifamily housing is available for a variety of needs.  High-rise condos are in demand nationwide.    

Hot Markets in Real Estate

Nationwide home values increased 12.3 percent in the second quarter this year compared to the second quarter increase in 2012.

Home values jump up in 2013 YOY!

Atlanta 38.9 percent


Las Vegas 31.4 percent


Los Angeles 30.3 percent


Orange County 29.4 percent


Oakland 41.3 percent  


Low Mortgage Rates

Although we recently saw a jump in mortgage rates, the real headline news is that the rates are still at a historic low point with 30 year at 4.4% and 15 year at 3.44%.  The federal reserve is depositing $85 billion dollars each month to mortgage backed securities to help keep the rates low.  This is not a guarantee, and at any point the Fed might decide to not keep this heavy investment, at which rate the mortgage rates will rise.

Best time of the year to buy a condo

With the warmer summer months, costs of housing increase and inventory decreases pushing up the cost of housing.  As the summer comes to an end, many sellers must price their homes to be competitive to buyers.  If the market remains stable, Fall 2013 might be one of the best opportunities to buy a home for several years.

If you are wondering where your city falls in the trends, and if it is a good time to buy,  contact your local real estate agent.  We are a team of real estate agents who specialize in high-rise living and know where the best properties are for your investments.  

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