1. Huge selection - it's your chance to be picky!
2. Motivated sellers - you may get concessions!
3. Favorable interest rates (for buyers with excellent credit) - more purchasing power!
4. Price appreciation has slowed - better value!
5. Traditionally slow time of year for home sales - less competition for the best homes!
According to Lawrence Yun, senior economist for the National Association of Realtors, conditions in the consumer mortgage market are improving, which should help release some pent up buyer demand and increase sales in 2008. So, we can't expect the vast choices and willingness for sellers to offer concessions to last forever! Also, while interest rates should remain low by historical standards, they are projected to rise next year.
Home ownership does not make sense for everyone. But, if you're in a strong position to buy, and it fits your lifestyle and finances, there are many advantages to this market.
