Many home buyers, first-timers and well-seasoned alike, are struggling to understand how to best go about finding and purchasing their next home in this current real estate market. The intimidating prices, interest rates, and lack of inventory over the past few years have been too much for many home buyers to wade through; but we’re here to help you make sense of this current housing market and get the house of your dreams as stress-free as possible!
Now is a great time for buyers to start looking for their new homes! Home loan rates have improved, and buyers no longer have to worry about needing to make quick decisions and having the homes they’re interested in bought before they have a chance to submit an offer. There is plenty of time to make calculated decisions, and many housing options to choose from.
The Treasure Valley real estate market has continued to slow down over the autumn months and into winter. The inventory of homes for sale has grown, during November of 2022 inventory rose to an increase of over 42% from November of 2021. We have around 3 months of inventory on the housing market right now, and a well-balanced supply would be 5 months. We’re almost there! Houses are on the market for longer, prices are lower and the market is slower. These three things help lean the market towards being a strong buyer’s market.
Quick decisions are still necessary to make if you’re a home buyer, however; stalling once you’ve found the home you want is never a wise course of action. Go into home buying prepared, and know how much you’re willing and able to spend and what kind of home you’re looking for. Make sure you have a realistic budget in mind, and that you’re ready for the financial commitment of buying a home. Have patience and be smart, but don’t be anxious; home buying doesn’t need to be as stressful as many people make it out to be.
Having a good, trusted agent to help you walk through this adventure will help the most with buying (and selling!) homes. Experienced real estate agents know what to look for and how to help with any unexpected things that may occur with the purchase. We at TV Real Estate along with our terrific team offer our services with helping you buy the home of your dreams in this new year. We’ll will walk alongside you the whole way there and deal with whatever comes your way.