Buying a home should be on your list of New Year’s resolutions. Here’s why.
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If you haven’t already, you should make buying a home one of your New Year’s resolutions based on what we are seeing in the Birmingham market.
2017 is shaping up to be a great year in real estate. If your goal is to buy a home, you should start the process as soon as possible. We don’t want you to postpone your goals for a few reasons, such as:
- Consumer confidence is at an all-time high.
- Unemployment is as low as it has been since August 2007.
- Most major markets have completely recovered from the mortgage and economic crisis.
It’s a perfect storm for buyers.
Based on this information alone, it’s a great time to buy this year. However, there are two key factors that will make you want to move sooner rather than later:
1. Mortgage interest rates. The Federal Reserve recently upped their base interest rate, and all signs point to even more increases in 2017. When rates go up, it impacts your buying power significantly. We can get you in touch with some great mortgage lenders if you need a recommendation.
2. Inventory. Our supply of homes is getting lower than ever. We are sinking to record lows in desirable markets.
Even with those potential problems, we still think 2017 is a great time to make your resolution of buying a home a reality. If you have any questions, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.
