According to CNN Money, 2016 is a good year to buy a home. They give 4 main reasons, here’s the recap.
4 Reasons to Buy in 2016
- HOME PRICES WILL FINALLY CALM DOWN. “Real estate values have been on the rise for a while, but are likely to slow their pace next year.”
- MORE HOMES WILL HIT THE MARKET. “The slowdown in home prices will prompt more owners to list their homes,” and with a higher supply of homes, “bidding wars will become less common and prices could ease even more.”
- DIRT CHEAP MORTGAGES COULD DISAPPEAR. “The Federal Reserve is widely expected to begin increasing interest rates soon, which means the window for record low mortgage rates is closing.”
- RENTS WILL STILL HURT. “Rent prices are expected to continue to climb in the new year, which means, in most cities, buying will be cheaper than renting.”
If you’re interested in how this might apply to the Sanibel real estate market, we’re here to answer your questions and provide the guidance you’re looking for. Need a real estate agent? We can recommend one of our knowledgeable Sanibel realtors and help you find the right match.