Mortgage Blog
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Buying A Home This Fall?
November 8, 2021 | Posted by: Marc Crossman
As summer comes to an end, the real estate market is still hot. So, are you looking to buy a home this fall?
1. Mortgage Rates Remain Low
Rates remain low compared to the historic norm. These low rates can help boost your home buying power since it's a great way to get more house for your money.
2. More Homes on the Market
Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, housing supply has started to trend up. This is good news for buyers who want more options.
3. Buying Over Renting
Median renting prices are growing exponentially. If you're a renter, it may be time to consider purchasing a home so you can lock in your housing expenses for the life of your loan, and avoid future increases.
4. Reconsider Asking Price
Today, homes are selling for more than listing prices. So, instead of looking at the asking price as the ceiling of negotiations, think of the list price of the house as the minimum the seller will accept in many cases. Then, plan accordingly.
The key is to stick with your search and be ready to act immediately once you find the right home for you. Don't hesitate to reach out at 780 710 3888 or marc@albertamortgagepros.ca we are here to help you along the way!
