Window of Opportunity
With mortgage rates at their lowest levels in over a year, housing supply up 18% from last year, and many homes still waiting for offers, it’s an excellent moment for buyers to make a move.
Buying now will prove a wise decision, as the lower-rate environment is projected to continue into next year, fueling increased demand and a more competitive housing market in the coming spring.
Disneyland is known as the “Happiest Place on Earth,” yet it is also known for massive crowds and extremely long lines, especially during the summer and around holidays. Seasoned Disney fans know that there is a magic “window of opportunity” when the park first opens, that special first hour and a half where the lines are short and you can practically stroll onto the top rides. The moment those gates swing open at 8 AM, the pros hustle straight to their favorites. By 9:30, the crowds have poured in, and the lines grow longer by the minute.
Right now, and for the remainder of the year, is a window of opportunity for buyers before the market heats up after the New Year, growing hotter as housing moves towards spring. The current conditions are ideal. Mortgage rates dipped below 6.5% and are at their best level since September of last year. Buyer demand will wane as the year draws to a close. Many homes have been on the market for months without success, and sellers are more willing to negotiate.
Excerpt taken from an article by Steven Thomas.
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