The Best Week for Homebuyers Is Almost Here
The wait is over if you’ve been waiting for the perfect time to buy a home in Danville or the East Bay! The housing market has shifted, and with mortgage rates dropping to their lowest level in over a year and a half, this is your moment.
The real estate stars have aligned, offering homebuyers the opportunity to secure their dream home.
September 29-October 5
According to experts at Realtor.com, the week of Sept. 29–Oct. 5 is shaping up to be the best time to buy a home in 2024. Why? Inventory is up, prices have stabilized, and buyer demand is slowing down, creating a prime opportunity for savvy homebuyers. With fewer competing buyers and more motivated sellers, this is the week to mark on your calendar.
Lower Interest Rates Mean Better Affordability
Mortgage rates just hit their lowest point in 19 months, providing you with more purchasing power. Andy Walden notes:
“Recent easing in mortgage rates brought some much-sought relief to prospective homebuyers. Along with a general cooling in home price growth, rates falling below 6.5 percent made August the most affordable month for housing since February.”
This means you can stretch your budget further and afford a bigger home or better location in Danville or the East Bay.
More Homes to Choose From and Less Competition
Not only are interest rates favorable, but inventory is up as well. The number of homes for sale has grown by over 35% nationwide compared to last year, giving you more options to choose from. Ralph McLaughlin, Senior Economist at Realtor.com, says:
“The number of homes actively for sale continues to be elevated compared with last year and now sits at the highest since May 2020.”
Sellers are also more willing to negotiate, knowing that there are fewer buyers in the market. This puts you in the perfect position to secure a deal.
Let’s Get Started on Your Home Search
With the stars aligning in your favor, now is the time to take advantage of these ideal market conditions. If you’re ready to find your dream home, let’s connect and get started today!
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