Why You Should Buy Real Estate in the Late Summer
The hottest season to buy real estate is undoubtedly spring, but there can be huge advantages to buying and selling in late summer as well. Here are four reasons you may consider buying real estate in the summer:
A slightly slower-paced market. If you’re buying, you can rejoice at the *slightly* slower pace the market seems to always move at during the summer. More people on vacation means less buyers around, less competition and hopefully a few less bids you’ll have to worry about.
Prices aren’t falling anytime soon. During Q2, Austin reached the highest median price for single family homes that the market has ever seen. With a healthy Texas housing market and national housing market, it’s predicted that home prices will continue to rise by 4.8% into 2020.
Mortgage interest rates are projected to increase as well. Interest rates for a 30-year fixed rate have begun to level off in the past few months, but experts predict that rates will continue to rise ever so slightly within the next year. An increase, no matter how big, will impact your monthly mortgage payment.
If you’re thinking about making the jump, there’s never a better time than the present. If a move has been on your mind, now is the time to make the jump! With home prices in Central Texas increasing (and not expected to slow down soon), you’ll likely find it more beneficial to invest in a home sooner than later.
If you’re looking to buy or sell in Austin, contact one of our agents today.