Fantastic news for Texas home buyers!
The Federal Reserve just revealed that they expect no need for interest hikes at all in 2019! This is great news, as it means the interest rates on mortgages should remain stable throughout the year, and stable interest rates should make getting a mortgage for your new home much more secure and affordable.
As we move into 2019, we have officially reached our 4th consecutive year of record-breaking home sales in Texas! Each consecutive year, ever since 2015, we have seen more and more houses selling, with a record-breaking 344,030 homes selling in 2018 alone! Not only is that 11% MORE than what was sold in 2014, that also means that on average there were more than 942 homes being sold in Texas PER DAY. Texas markets might be shifting, but for now, folks are still buying and selling at a red hot rate!
Balanced markets are a win for buyers and sellers!
In addition to the record sales and lack of interest hikes, the housing market has become much more balanced in recent months. Previously there were so many buyers and so few homes that people were overpaying just to get the house they wanted, often paying more than the house was worth! But now as we enter a more stable market period, there is a much better balance of buyers and sellers, which drastically increases your chances of getting a home AND paying a fair price. No need to overpay when there is less competition!
Now is a great time to buy a home in the Lone Star State.
In short, between the interest rates stabilizing, the market becoming more buyer-friendly, and the record-setting home sales, it’s undoubtedly one of the best times in years to finally buy that Texas home you’ve been dreaming of. Buyer representation is free in nearly all cases. Call or message me to find out how to get the ball rolling on your mortgage and house hunt!