Is now a good time to buy a home in Austin, Texas? Well, across the nation 72 Percent of people think now is a good time to buy a home and 43 percent believe that strongly. That’s according to research done by the National Association of REALTORS®.
It’s almost Spring time here in Cedar Park and Austin, Texas. It’s March 2018 and we are beginning to enter our busiest home selling season. Spring and Summer is when our market really heats up. Pun intended.
One thing the National Association of REALTORS® is really good at is surveying the sentiment of Buyers and Sellers in the real estate market. It is this sentiment that often drives the market.
A recent survey shows that across the nation right now, buyers think this is a great time to buy a home. 73 percent think its a good time to buy and 42 percent think that strongly.
Right now in Cedar Park and Austin, Texas we have tremendous Buyer demand. This is good news for Sellers because if you’re selling you are going to get top dollar for your home. Remember, when supply is low and demand is high prices go up.
So, why are Buyers so excited about buying a home. Aren’t they paying higher prices than even a year ago. Yes, that’s true.
But here’s what’s driving buyers. Mortgage interest rates are still historically low, the job market is robust, and the economy is strong. That’s certainly true here in Austin, Texas.
People love Austin and continue to move here in record numbers.
How long will mortgage rates stay low. Probably not for long. In fact, there’s plenty of data to suggest that rates are expected to exceed 5 percent by the end of the year.
So, what’s the key take aways? Two things:
- It’s better for buyers to get into the market now rather than later.
- It’s a good market in which to be selling a home
