Does It Really Matter if We’ve Hit Bottom?
Whether real estate has hit bottom yet or not, there is no mistake that it is a buyer's market
The biggest question hovering around these days is, has the real estate market hit bottom? I suggest the more important question, however, is —does it really matter? Whether we hit bottom a couple of months ago or are going to hit it a couple of months from now, we can all agree that it is a buyer’s market when it comes to real estate.
If we haven’t hit bottom then the bottom must be close. And if we are close, wouldn’t it be better to buy near the bottom than miss it entirely?
I’m encouraging my buyer clients to look at the big picture. Property values are lower than they have been in years and interest rates are at historic lows. Those factors combine to make home ownership more affordable that it has been in decades. Remember, too, that even small increases in mortgage interest rates can significantly decrease your buying power! Start searching for your Andover or North Andover home today.
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