The good news is interest rates are expected to drop by as much as 1/2 percent in the fall.
The bad news is you'll be competing with all the other Buyers who are waiting. I recommend buying now for the following reasons:
You [currently] have more selection with a robust inventory that includes, as of yesterday, the following housing inventory:
๐ฆ๐๐ป๐ป๐๐๐ฎ๐น๐ฒ - 103 properties on the market.
๐ ๐ผ๐๐ป๐๐ฎ๐ถ๐ป ๐ฉ๐ถ๐ฒ๐ - 70 properties on the market
๐๐ผ๐ ๐๐น๐๐ผ๐ - 48 properties on the market
๐๐ผ๐ ๐๐น๐๐ผ๐ ๐๐ถ๐น๐น๐ - 24 properties on the market
๐ฃ๐ฎ๐น๐ผ ๐๐น๐๐ผ - 69 properties on the market
๐ ๐ฒ๐ป๐น๐ผ ๐ฃ๐ฎ๐ฟ๐ธ - 47 properties on the market.
Consider this: waiting to buy means facing fierce competition once rates drop. Here are just a few reasons to buy now:
- The right property may not be available later.
- Overbidding for a lower rate increases your payment and tax costs.
- You can change your loan, not the purchase price or tax rate.
- Buy now before the rush to secure a lower home price, then refinance later.
Data obtained on the MLS on July 28, 2024
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