Around the United States, prices continue to rise in most markets. If you’re waiting for the market to shift toward a “buyer’s market,” think again. There are costs associated with waiting to buy a home…
- The median home price in 2016 was $281,400 and increased to $291,200 in 2017, per the United States Census.
- Mortgage Interest Rates are rising and are expected to continue to edge higher. Analysts believe the average mortgage payment is expected to jump more than 12% year-over-year.
- Disposable income likely won’t increase enough to make up for higher mortgage rates.
- Data shows that an average monthly mortgage payment could rise as much as $100 within the next year.
- Material costs are rising. Windows, lumber, concrete and other materials are being invoiced at a much higher rate. If you’re looking for a new home, don’t hesitate. Now is the time to build your dream home.
If you’re serious about buying a new home, contact a local Real Estate Agent to begin the process or contact one of our experienced REALTOR® partners. We speak: English, Spanish, French, Vietnamese and Albanian. (727) 546-6611 or visit: americanhousingbuilders2.com