Why is it still a great time to buy in the Tri-Cities?
5 Reasons Why It’s Still a great Time to buy!! by Community Real Estate Group
- Less competition
- Prices are levelling
- Sellers might be more open in paying closing costs
- Houses are staying in the market longer
- Value is continuing to rise!
What’s happening in the real estate market right now and why is still a great time to buy a home?
- Less Competition – In this unique market, there’s less people competing with you since interest rates have risen a little bit.
- Prices are levelling – We can see a less rapid increase of pricing and appreciation in housing, helping buyers find more affordable homes.
- Sellers might be more open to different buyer scenarios – They are more open to pay closing costs, and are even accepting offers with contingencies of homes.
- Houses are staying in the market longer – This definitely benefits the buyer! With houses staying in the market longer, sellers become more anxious to accept an offer that are not quite at the list price like we were seeing in the previous month.
- Tri-Cities property values continue to rise – If you’re to buy a home to day and it continue to rise at 3-5%, you’d be way ahead even if you’re to pay the higher rates that are out there today.
If you have more questions about the current real estate market in the Tri-Cities, connect with us! Our expert agents would love to help you understand the market in your local area and help find you a new home!