Home Sales At a 7 Year High - Now is the Time to Buy

Home Sales At a 7 Year High - Now is the Time to BuySome fantastic news from the KCM blog was recently shared, indicating national American home sales have reached a 7 hear high as of the end of January.  The housing market appears well on the way to (if not already at the point of) stabilization.

13,945 houses are being sold every day, on average, according to the National Association of Realtor's recent Existing Home Sales Report.  Additionally, sales have increased 9.1% since 2012, and that this is the best performance the market has seen since 2006. 

This means that, despite rising interest rates, home sales are in a great place.  Now is a great time for first-time homebuyers to explore the market, or for existing homeowners to move up to a better home.

Interest rates, while rising, are still below 5% which keeps the doors open for many prospective homebuyers.  Homebuyers are encouraged to start now rather than later, as waiting to buy will, in fact, reduce potential purchasing power.  As the rates continue to increase as they are expected to, buyer's purchasing power will decrease, as this KCM graph indicates:

 

Home Sales At a 7 Year High - Now is the Time to Buy

With market conditions looking so promising in 2014, don't hesitate to begin your home search!  Send us an email or give us a call, and we'll be happy to help you find your new home.

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