One of the biggest problems with the housing market is that there are a lot of fluctuations in it. Prices go up and down frequently. They usually don’t move a lot, though. When the housing bubble burst, home prices fell dramatically, and that was a serious shock to a lot of people who suddenly found that they didn’t have any equity in their house anymore. They now owed more than their house was worth. They couldn’t sell it, and the economy got worse until they lost their jobs and couldn’t make their payments. They ended up in foreclosure.
The good news is that the market fluctuations are easing, and there aren’t as many of them as there used to be. Things are slowly stabilizing, and that’s good news for buyers and sellers alike. Sellers are clearer on where they stand, and buyers are more likely to go ahead and make a purchase because they don’t think the prices will keep going down. They want to get the best deal, of course, so they try to wait until the prices hit the absolute lowest they can go. If they wait too long, things start to go back up and they won’t get the deal they hope for. That’s true for both the prices and the interest rates.
Since the market fluctuations are easing, it’s important to make sure that you’re ready to make a move on your dream home. You aren’t going to get prices to come down much further, so it’s a good idea to be ready now. The interest rates are already starting to edge upward, and you won’t be able to take advantage of them for long. Now is the time to get involved and make the purchase you’ve been waiting for.