When most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what else impacts the purchase. It’s not just the price of the house that matters, but the overall cost in the long run. Today, that’s largely impacted by low mortgage rates
. Low rates are actually making homes more affordable now than at any time since 2016, and here’s why.
The green bar
represents today’s market. It shows that homes truly are more affordable than they have been in years, and much more so than they were in the normal market that led up to the housing crash. Low mortgage rates are a big differentiator driving this affordability
Experts agree that this unique moment in time is making homes incredibly affordable for buyers.
When purchasing a home, it’s important to think about the overall cost, not just the price of the house. Your dream home may be more affordable today than you think. Let’s connect to discuss how affordability plays a role in our local market, and your long-term homeownership goals.