Home sales are up 1.8 percent totaling $4.09 million in sales according to the National Association of Realtors February report. Financial Advisor, Derrick Kinney, says buyers are dismissing the noise, focused on the bottom line.
“The home you’ve been putting off is now more affordable and they feel like their job is secure and there’s a couple extra bucks left at the end of the month- this can be a green light for people who want to buy and that means good news for the economy as well.” Kinney said.
As President Trump has been focused on American homeownership and affordability mortgage rates on the lower end in February ranged between 5.98 and 6.01 percent enticing buyers to take the plunge.
Kinney says not to allow hesitation and worry to hold you back. The Spring season is around the corner with buyers expected to flood the market. “If you like the neighborhood and you’ve been waiting- now may the time to take action.” He said.
Kinney acknowledges people are worried about the economy, the war in Iran, or can be about their jobs. “When we see interest rates drop, we know that housing prices and people who buy homes- tends to be good for the stock market, so those 2 things- hand in hand- might mean good news, at least in the short term.” Kinney said.
He says, although it may seem unreasonable, choosing a home that is slightly above what you wanted to spend- could maximize net worth long term as the value will increase.