Though the market has made great strides to rebound over the past few years, the Lebanon NH buyer’s market still exists. That means you can get a great house at an affordable price. The average interest rate right now is around 4 percent, which is a far cry from the higher rates of a decade ago. If you are considering buying your dream home, now may be the time to do it.
Interest Rates May Be Poised to Rise
The interest rates have been low for a few years; however, don’t expect them to stay so low. They have already risen quite a bit over the past 24 months, and they probably won’t go down again. Markets are always a bit unpredictable when a new administration moves into the White House. As they continue to rise, it will be because sales are at a level where they have helped the economy improve. At this point, we will move into a seller’s market. During a seller’s market, sellers can ask higher prices for their homes, because the market demands it. Now, we are somewhere in between, which means it is time to make a move.
Consider the homes for sale in the Lebanon NH buyer’s market. This small city is highly coveted among those that work in the Boston area. No one wants to deal with that traffic all the time, so they move to rural areas, like Lebanon. There are less than 14,000 people that call this area home. The median house price is $222,600. In the past year, housing costs have risen over 3.5 percent. Real estate experts predict that it will continue to rise over the next 12 months, and it could rise as much as 2.4 percent. By the numbers being on a constant upswing, it’s time to get into that home you want, at an affordable price. Waiting may only cost you more a year from now!
Buying a home is exciting, but getting in at the right interest rate makes it affordable and well worth your money. Now is the time to make a move toward home ownership.
As exclusive buyer’s agents, Housing Solutions Real Estate LLC will always and ONLY represent your best interests when looking at any homes for sale. Call us today for a no-obligation consultation, or to have any of your home buying questions answered. 603-643-4800.