Why It May Be The Best Time To Buy A House In Years
Joe has some great news, if you’ve been on the sidelines waiting to buy now is the best time we’ve seen in a long time to buy.
We have got a couple of things going on. I’m sure you guys have been watching the news and noticed that prices are dropping. We’ve had consecutive price drops in the last four months for the first time in a long
Second our buyers are able to come in and get some favorable terms. Including asking for assistance with closing costs, including the home inspections, favorable closing dates, and reduced prices.
We woke up today with some more great news. Over the last couple of weeks interest rates have been dropping. We have come down almost a half a percent in the last couple of weeks.
Another good reason to buy right now is typically we always see an influx of buyers right after the new year. They might start chipping away at your inventory.
Snohomish County Housing Market
The Snohomish County Real Estate Market Analysis For October 2018 Shows That The market is continuing to lean back toward buyers.
A few things that really stuck out to me as I was compiling the October stats.
- Average Sales Price Increased slightly to $486,484, despite most other stats being down.
- There are 835 more homes for sale than the same time last year.
- Average days on the market crossed the 30 day threshold for the 1st time since January.
- 99.1% is the lowest percentage of sale price to list price since November 2015
- Active listings decreased by 155 homes over last month. New listings decreased by 221 homes over last month. While pending sales stayed the same.
- Interest rates remain below 5%.
Read the full Housing Market Report