This Thanksgiving week we wanted to take the time to reflect on the positive aspects of our current real estate market. There are many reasons to be grateful for the trends we have seen in the housing market. Homeowners, potential buyers and real estate professionals can all find something that they are thankful for. Here’s a list of the reasons why we are grateful for what our real estate situation is today.
Interest Rates Have Remained Low
Interest rates have been lingering around historic lows for some time now. Currently, the interest rates are still low making purchasing a home affordable for all buyers. There is ongoing speculation that interest rates will be on the rise. So take advantage of the current low rates and apply for a mortgage today.
Values Are Increasing
The housing market has been steadily improving over the past years. Homeowners are seeing a steady but sustainable increase in property values. This has also lead to more mortgage refinances and many homeowners moving up in properties. All of these factors are strong contributors to a thriving real estate economy.
New Construction is Growing
Over the past few months the housing market has seen new construction starts at its highest in the last 9 years. The surge of new construction shows the vitality of the housing market. It also means an increase in inventory of homes available to prospective buyers.
Availability of Affordable Mortgages
Not only are interest rates low, making mortgages more accessible, but there are still so many affordable mortgage options for homebuyers. First time homebuyers no longer need to wait until they’ve saved a 20% downpayment to purchase a home. They can take advantage of many low or no down payment programs that allow them to purchase a home much sooner saving them thousands of dollars in rent.
Here at Aceltis we are also grateful for the many clients we’ve able able to assist this year. It is our pleasure to find the right financing for homeowners. Give us a call to see what the current real estate market means for your financial picture. We’d love to give you even more reasons to be grateful.