Well, from the perspective of the North Shore marketplace, here are some good reasons you should buy a home now:
While Boston appears flat, according to the Case-Shiller price index, there is much speculation that the market has hit bottom here.
Read the full S&P/Case-Shiller release.
Home sales were up in April.
Home prices rose in April.
Nationally, new home construction permits were up in April.
Interest rates have fallen to below 5% and according to an article in Realtor Magazine:
“Borrowers eager to lock in a very low-rate mortgage should apply in the next day or two, says Bankrate.com mortgage analyst Holden Lewis.
Rates haven’t been this low since the 1950s, he says, adding that rates are unlikely to fall further.
“You can float, but that’s not a smart strategy. It’s like asking for another card when you have 19 in blackjack. Stand and take your chances,” he advises.”
Source: Bankrate.com (5/26/10)
Do you think it’s a good time to buy? Write in and share your thoughts.
