Real Estate Insider Blog
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The Clearwater Housing Market is Heating Up
This is good news for sellers but buyers need to consider their home buying options now to avoid being priced out of the market. For Clearwater home buyers it’s time to get off the fence and actively explore your options today.
January 2016 has seen a National Average of 5.4% increase in home values and Clearwater is ahead of the trend. Of course our beautiful weather helps but the low home inventory has produced a much larger demand for available homes. Rather than see this as a negative, home buyers should look at the advancing home values as an opportunity to get into the market at the “perfect time.”
“But if it’s a seller’s market then shouldn’t I wait to buy?”
Not necessarily, while there are conditions which makes it appealing for sellers to enter the market, buyers have good reasons to buy as well. It’s really more of a balanced market right now. The natural reaction of sellers to the rising home values is to list their homes for sale. As we get into the Spring Selling Season in Clearwater, we can expect to see inventories rise as well. This is a critical point if you are trying to save money.
Buyers have a real incentive to purchase a new property right now since interest rates have fallen since the beginning of 2016 and not likely to keep falling. As of April 8, 2016, interest rates are down 8 basis points over last week to a national average of 3.38%....
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