There are many things happening, making it easier to buy a home. The feds have cut interest rates last week and there’s an increase an incomes, therefore now is the time to buy.
Housing affordability is real and it’s here! According to an article by Forbes.com , American’s home buying power has been increased by 15% since last year. Now you can get a $300,000 home for the price of a $255,000 home.
Many experts are predicting that mortgage rates will remain steady for the rest of the year.
Mark Fleming, Chief Economist from First American says “While rates are expected to remain low, the fate of the labor market will determine the direction of the other half of the house-buying power equation and, ultimately, affordability.””
“the rate of annual home price growth has declined for 15 consecutive months. More recently, declining 30-year fixed interest rates have helped to ease some of those pressures, improving the affordability outlook considerably.” shared by Ben Garboske, President of Data and Analytics at Black Knight.
Now, MORE THAN EVER, is the time to get into the housing market, and start your investment into homeownership.
Your home buying power is stronger than ever, let’s get you a home today!
New Door Residential loves to stay up to date on the Las Vegas housing market. We’d love to help you start your journey, so contact us today!