But Why Buy Real Estate Now?

What is driving buyers to purchase NOW?    A variety of factors and we are seeing this purchase trend throughout the economy, not just in housing.  

Out of the recession... We know that automobile sales are increasing, just like homes. They were depressed during the Great Recession and as employment improves, people are dealing with cars, homes and many things that have "grown old" by at least four years now. 

And in with the new...

Housing starts were dismal the last four years so in addition to resale, we also are seeing an increase in new home starts. Since people cannot find an existing home for sale (insufficient number of homes for sale) they move to new construction for replacement.

So catch it while you can...

In addition, most Americans are keenly aware that interest rates are at historic lows and are not going to stay at this level for ever.  In fact, what the Treasury department has stated is they are watching interest rates against inflation and if we see an inflation, rates will rise.  When they do, the affordability index will rise, stopping the rise of home prices.  Makes sense, a rise in interest rates increases a loan payment, lowering the buyers ability to reach a price point, that stops or slows the rise of home prices.

Call me with your thoughts and questions,

Rick Bennett

208-407-0532

www.id-buyrealestate.com