Here are the top 10 reasons why it’s a great time to buy!
(1) It’s a buyers’ market.
“A situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations” – Investopedia.com.
As market conditions change in favor of the seller, inventories become depleted and selection of homes decreases…it becomes more challenging (and more expensive) to get exactly what you want. Have you got a house to sell before you can move? Remember that it’s all relative…if you sell in a buyers’ market, you get to buy in a buyers’ market. Reverse that statement as market conditions change in favor of the sellers. In terms of purchasing power from the equity in your existing house, it will remain the same for you (unless you are moving to another market altogether…we hear Detroit has houses for $500!).