By the Kent Redding Group
AUSTIN, TX. – Every year we see home buying in Austin and across the United States heat up with the weather and thanks to a recent article on Realtor.com we know that this year may be one of the busiest years ever to buy a home since the end of the Great Recession.
A Record Low Number of Homes for Sale
One of the biggest factors that may make 2018 one of the busiest years in recent memory to buy a home has a lot to do with a record low number of homes for sale in Austin and other cities nationwide compared to years past.
In recent years it wasn’t uncommon to see existing homeowners put their homes up for sale to meet the growing demand for homes nationwide but that’s expected to change this year as more homeowners are deciding to stay in their homes rather than sell them
New home construction is also predicted to slow in 2018 as well and with fewer homes available in the real estate market as well.
It’s Getting More Expensive to Buy A Home
Besides dealing with an inventory problem; in 2018 it’s also getting more expensive to buy a home thanks to increasing home prices and mortgage interest rates which have been steadily increasing.
What can you do to help yourself as a home buyer: 1. Review and resolve any issues with your credit 2. Get pre-approved for a mortgage loan now 3. Know what your searching for in a home 4. Be ready for a bidding war and drop some of your contingencies (if needed).
To learn more about what to expect with the 2018 Real Estate market contact the Kent Redding Group today by calling us at (512) 306-1001 or CLICK HERE to connect with us online.