Prices are preparing to skyrocket!
Reason #5: Competition generates fuel for your buy.
It is true home prices are on the rise but they haven’t skyrocketed out of reach for most buyers.
In February 2014 the average cost of existing homes was $189.00 which is 9.1 percent higher
from February 2013, as reported by the National Association of Realtors (NRA).
An added reason to buy now is, the housing inventory increased 6.4 percent to 2 million
existing homes available for sale, stated in the NRA report. Why is this good news for you?
There are more homes to choose from. The more homes on the market generates higher
competition, higher competition generates lower home prices, lower home prices makes
buying possible for you.
Jay Plum, Executive Vice President of Huntington National Bank, recommends “If you’re looking
at buying a home, be prepared to offer quickly, and get pre-approved by a lender which will
make things go easier.”