Is Now a Good Time to Buy a Home? April 2023 News
Dated: April 11 2023
Views: 68
Most renters would tell you; they'd buy a home now if their lease ended this month. But is April 2023 a good time to buy a home?
The data shows this.
Mortgage rates are dropping quickly.
- Conventional mortgage rates are on a win streak.
- Interest rates are down through 4 consecutive weeks.
- According to Freddie Mac. 30-year, fixed-rate mortgage rates now avg. 6.32 nationwide
- Mortgage rates are dropping because inflation rates are slowing down.
The Housing Market is Strong
There aren't enough homes for buyers who want to buy one. According to the National Association of Realtors, each state is averaging less than 20,000 homes for sale. Of those homes, 57% of them are selling within a month.
The housing market is unbalanced right now. The supply of existing homes for sale is 2.6 months nationwide. At the current pace, every MLS-listed home would get sold before July 1st. A balanced market is when you have at least six months of housing supply.
You Can Buy a Home Without a Huge Down Payment
- Despite what you hear - you do not have to put 20% down
- There are 3.5% and 5% options for down payment
- Buyers can get access to down payment assistance programs
- Mortgage lenders have lowered the minimum credit score requirements in the last 18 months.
In summary, YES - now is the right time to buy. Don't wait, call a professional realtor today to get started. I will direct you to the best mortgage lenders in the business.
Call Stephanie Albright - RE/MAX Excellence at 561-402-2678
Need to buy with confidence and sell with success? I am ready to help you.
Multi-Million Dollar Producer
Cell: (561) 402-2678
Office: (561) 509-5787
Email: Stephanie.Albright@remax.net
420 State Rd 7, Suite #100
Wellington, FL 33414
#stephaniealbright #stephaniealbrightremaxexcellence
#stephaniealbrightrealtor #stephaniealbrightrealestate
#homesforsale #southfloridahomesforsale
Article Courtesy of: Dan Green, updated 4/2/23
Stephanie Albright
Palm Beach County Realtor - AI-Powered Marketing Specialist - #1 RE/MAX Prestige ALL STAR Jan. 2026 With over 24 years of experience and recognized as the #1 RE/MAX Prestige ALL STAR for Januar....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
