The Minneapolis Area Association of Realtors ran a great article in a recent newsletter on what homebuyers need to know or remember about today’s housing market in Minnesota. Here is their check list of news items.
- Never has there been a more robust supply of homes for sale from which buyers can choose…let’s go shopping.
- Interest rates have declined and are again approaching historic lows…advantage buyers
- Declining interest rates and moderated home prices mean housing affordability has rebounded to the high levels experienced during the boom part of this decade (link to historic HAI)…buyer motivation
- Whether it begins this spring, next fall, or one year from now, these circumstances will cause pent up buyer demand to soon unfurl, so as to take advantage of this new environment…opportunity is knocking
- The newly revised mortgage limits for FHA financing will open up more opportunity to new home buyers (link to MAAR “FHA” release)…new avenues to home ownership
- The stage is set for a real estate market rebound…catch the wave early on
Your best investment for building long-term family wealth is homeownership..start building your future today