CNBC reported on January 18th, that “Mortgage rates are at the lowest level since September, and that is bringing new demand into the mortgage market” with mortgage applications increasing 25 percent compared to the week prior.
Why are home buyers coming back into the market? A variety of factors, but here are four reasons:
1. Lower mortgage rates decrease monthly payment costs. Home buyers are looking at what their monthly housing expenditure and every hundred dollars matter.
2. Potential home buyers hearing success stories of home buyers who recently closed escrow with sellers paying closing costs, doing repairs, and having a more “buyer friendly” experience.
3. The start of the year brings optimism towards achieving big goals like “buying a house in 2023”.
4. Real estate is not a trendy gadget or app. Real estate is shelter: you either own where you live or rent. Real estate has proven to be a good investment for Americans in the long term.
As our real estate agents attend training, networking events, preview property, and learn more about different communities — HOAs, trails, neighborhoods, new build developments — we focus on providing value.
How do we continue to give VALUE to our clients?
Most homeowners get solicitations in the mail constantly from different real estate agents, big iBuyer companies, and others to sell fast for cash.
We provide guidance, support, information, and lead you through selling your home or buying a home. From the negotiations for offers and repairs, to giving you a roadmap, we are focused on your real estate needs.
If you want to connect over anything real estate related — buying, selling, inheriting a property, investment properties, Airbnbs, renting — please call (626)609-2130!
This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.
