Now is A GREAT TIME to Buy a House!

Many potential homebuyers may be wondering – “Is now a good time to buy a house?” There are many variables that can go into determining the answer to that question: the economy, home prices, and interest rates to name a few.

The economy seems as unpredictable as ever. Today the DJIA dropped and the US market experienced it’s first 10% correction in a number of years. So that may give consumers a bit of concern.

Interest rates remain at historically low values which has increased the buying power for many consumers. This is a very good time to buy based on historical interest rates.
Home prices are going up. Corelogic reports home prices are up 6.9% year over year with an expectation that home prices will continue to raise in 2016. Buying now makes good sense to take advantage of the predicted appreciation in value.

While nobody can say with certainty when is the BEST time to buy a house, two of the three indicators discussed above support that now is a GREAT time to buy a house.

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