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Want To Buy a Home? Now May Be the Time.

Thursday, August 4, 2022   /   by Laura Larson

Want To Buy a Home? Now May Be the Time.

Today, there are more houses for sale than at any point in the previous year. Therefore, if you tried to buy a house last year but were outbid or overcharged, this could be your chance. Over the past four months, there have been more houses for sale in the United States as rising mortgage rates have slowed the property market's frenzy brought on by the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you: “This is an opportunity for people with a secure job to jump into the market when other people are a little hesitant because of a possible recession...They’ll have fewer buyers to compete with.”

Two Reasons There Are More Homes for Sale
The market is seeing more homes for sale in part because fewer transactions are taking place each month. Rising mortgage rates and housing prices are to blame for this slowdown, which has forced many people to delay or put off buying.

The second reason the market is seeing more homes available for sale is that the number of people selling their homes is also rising.

Bottom Line
The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or outpriced last year. Call Laura today if you want to take advantage of the improved inventory of homes.
Larson Fine Properties
Laura Larson
7294 Joffa Circle
Warrenton, VA 20187
703-743-4410

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Larson Fine Properties participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale. © 2022 BRIGHT, All Rights Reserved Information Deemed Reliable But Not Guaranteed. Data last updated: August 12, 2022 10 AM.
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