Is Now the Right Time to Buy a Home? Here’s What Economists are Saying
It’s no secret that buying a new home is one of the biggest decisions you’ll make in your life. But, what can sometimes feel like a secret is the state of the market at the time of your big purchase.
Fortunately, the experts at John Burns Real Estate Consulting have recently released their “U.S. Housing Analysis and Forecast Report” to share their predictions.
We’ll break down what all this information means for your upcoming purchase.
From this report, we can garner a few key insights:
- According to the Burns Economic Performance Index™, the United States is currently experiencing a time of average economic growth and increased consumer confidence.
- Because of this, more people are choosing to buy homes now. The U.S. is currently experiencing a 6% increase in the volume of mortgages when compared to the same time last year.
- But, it’s not all good news in the housing market. The Burns Economic Performance Index™ also indicates that this period of average growth could soon be shifting to low growth within the next 12 months.
- The report also shows that, as of July 2019, many experts expect a U.S. recession to kick in by 2021.
While these are all no more than well-researched predictions, they are able to give some insight into the immediate future of the housing market. While the market is in good shape at the moment, there may be change on the horizon. That’s why taking proactive, helpful steps to secure the funds that you put into your new home are more important than ever.
Where To Go From Here
All these new insights are certainly helpful to consider, but no economist has a crystal ball, and no one can say with absolute certainty what the state of the economy will be in 12, or even 6, months. While we may see a recession by 2021, it may not look the same as previous recessions.
So, is there a way to completely take this unease and uncertainty out of buying a home? If the market is good now, is there a way to capitalize upon it without fearing for the future?
At Winchester Homes, we’ve created a way to solve these problems.
With our Lock In Rest Easy program, you can secure today’s low interest rate without worrying about it changing in the future. You won’t get subjected to the market’s ups and downs as your home is built and the finishing touches are put on. But, if the market rate ends up being lower when your home is ready for you, you’ll get to take advantage of that lower rate.
Lock In Rest Easy is just another way that we at Winchester Homes strive to transform your new home purchase from a tough decision to a smart, safe move for you and your family.
Want more information on the Lock In Rest Easy program and other ways Winchester Homes is working to help you succeed? Visit winchesterhomes.com/financing.