Home sales are projected to rise in 2018. There are many reasons for the positive outlook; demand and low interest rates are only two. This projection has good news for both sellers and buyers. And if you are a renter, you may want to set your focus on home ownership. After all, owning a home is one of the biggest ways to plump up your financial portfolio.
Demand for housing has been pushing up. Buyers are getting pre-approved for their mortgage loans, and sellers are experiencing less competition. A neutral housing market has a six month housing inventory supply, we are currently at approx. 4.3 month supply.
Historically low interest rates are another factor making home ownership within reach for many. In addition lower interest rates allow the buyer to look at higher priced homes. This is because they are borrowing money at a low rate verse a higher rate.
If you are a renter and looking to own a home, the timing is good. You will want to get a mortgage pre-approval from a bank or loan officer. This will allow you to know what price range you will be able to qualify for. In addition, a loan pre-approval will let the sellers know, your offer is solid.
When you own a home you expand your investment portfolio. A mortgage payment is a form of forced savings. In addition appreciation of your home is also boosting your money by raising the value of your home. If you don't own a home, you may want to rethink your investment strategy.
So who says home sales are going to rise in 2018? Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018.
All real estate is local. York County South Carolina has a lot to offer. Whether you want to visit the lakes, or be entertained you will not be let down. York County also has medical centers and higher education centers available. If you are thinking of making a move, give us a call. We have the deep community roots and network to help you find your next home. We can show you all of the beautiful areas of York County.
We would like to invite you to visit ArbieTurnerHomes.com. We specialize in the Rock Hill, Fort Mill, Indian Land and Tega Cay areas of South Carolina. We have made available tours of subdivisions in each city for your review. We are deeply knowledgeable of these areas, which is why you want to choose us for your real estate needs.
Courtesy of Arbie Turner Homes Keller Williams Fort Mill SC
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