It is likely that this is the most ideal time to purchase a home for our generation. Here is why:
1) The affordability of homes is the best that it has been in decades
2) The prices of homes for sale are nearly 1/3rd lower today than in 2006 (the real estate “peak)
3) The monthly cost to rent is often more than the monthly cost to purchase a similar home. Interestingly enough, statistics show that purchasing a home is less expensive than renting in 98% of the United States 100 major markets.
4) Mortgage interest rates are at historic levels. These low interest rates can be “locked in” for the next 30 years when obtaining a 30 year fixed mortgage.
5) Overall, the health of the US economy seems to be improving. Unemplyment is decreasing, wages are rising and there is minimal indication of looming inflation.
Current market conditions indicate that NOW may be a perfect time to purchase a home!!
Are you curious to find out what’s currently for sale in your particular area? If so, start your quest for information at www.TrustIdaho.com/search