Is This A Good Time To Buy?
According to some experts, the real estate market may have hit bottom. Prices in the Northeast were up 6/10th of one percent last month. Sales of homes in April were up in every segment of the country with the exception of the Midwest, with the Northeast showing the biggest gain, up 12%. This is good news when you consider that all we’ve heard is bad news for the past two years. Economists are also quietly saying that they think that we will be out of this recession by the end of the year.
There is one gorilla in the room that may have an impact on any progress, and that is interest rates. Rates have been climbing rapidly, and there is a lot of pressure for them to continue that trend. Inflation is also a big concern as evidenced by increasing gas prices.
So, is this a good time to buy? The answer is yes! With inventories high and prices still deflated, now is the time to move into that dream home that we all espier to.
