Is Now Really the Best Buyer’s Market?

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and 55places.com.
Details here.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting optout@55places.com. Message/data rates may apply. I also agree to 55places.com’s Privacy Policy and Terms of Use.

It is still a buyer\'s market but the numbers are showing that a move to a more balanced market is in the works.
lkjasdf
It is still a buyer’s market but the numbers are showing that a move to a more balanced market is in the works.

As the real estate market shows signs of improving, would-be home sellers have reason to hope that they can soon afford to list their homes. Yet that doesn’t mean buyers have missed their chance at getting a great deal on a home of their own. Interest rates are still at record lows and home prices have only just begun to rise. If they act soon, this could be a great time for homebuyers to make an offer on the home of their dreams.

In real estate, one of the most frequent questions asked is whether we are in a buyer’s market or a seller’s market. This is usually determined by an estimate of how long it will take to sell the amount of inventory (homes for sale) currently available. It is typically considered a buyer’s market when there is more than six months of inventory available and a seller’s market when the inventory is expected to last less than six months.

Although most of the country has been in a buyer’s market for the past few years, statistics from the fourth quarter of 2012 show that we are moving toward a more balanced market. The National Association of Realtors reported a 19.2 percent increase in single-family home sales and supply which has dropped by 8.5 percent, bringing the lowest inventory levels since May 2005. But we haven’t moved into a seller’s market yet. Buyers still have plenty of reasons to feel confident when making offers on available homes.

For one thing, The Federal Reserve has pledged to keep interest rates low throughout 2013 in an attempt to help stimulate the economy. These low rates make it easier for homebuyers to secure affordable mortgages. For another, slowly rising home prices are coming back from record lows. Even if a more balanced market brings prices up, it won’t happen overnight. Homebuyers still have time to purchase homes at affordable prices.

Foreclosures and short sales are still an option in many markets as well. Homebuyers who are willing to take on the extra work and wait through a more lengthy process may be able to save while buying their dream homes. However, there are not as many foreclosures available today as in the past few years so this is the time to look for deals.

While average national statistics can be helpful, homebuyers and sellers should always watch their local markets before making any decisions. In many markets across the country—such as Orange County, California—real estate professionals are predicting that 2013 will be a great time to buy with homes still up to 40 percent off their peak prices and interest rates at record lows.

Can you spot the $207,744 difference between these identical homes?

Financing is the difference!

Get the details in The 62+ Loan Homebuyers Guide.

55places Mortgage is a joint venture between Mutual of Omaha Mortgage and 55places.com.
Details here.

We're here to help! (800) 928-2055

Call us to speak with a customer service representative.

Subscribe to Our Newsletter

Get Weekly Updates

I agree that 55places and its affiliates, partner providers or agents may call, text, or email me about my inquiry, which may be made with automated means. I understand that my consent is not a prerequisite for buying a property. I may revoke my consent at any time by contacting optout@55places.com. Message/data rates may apply. I also agree to 55places.com’s Privacy Policy and Terms of Use.

The resort-style pool at Brightmore at Wellen Park in Venice, Florida

New Active Adult Communities Added to 55places.com

In this comprehensive roundup, we bring you the latest additions to 55places.com—a trusted resource for exploring active adult communities. Over the past 30 days, several new communities have joined the ranks, each offering different amenities and locations.

View of the Cumberland River and Downtown Nashville, an attractive place to retire to Tennessee.

Why You Should Retire in Tennessee

Whether you want to live in a city like Memphis or you want a small town like Jonesborough, you’ll find the ideal place to settle down in the Volunteer State. Tennessee has plenty of things to do, and here are five reasons why we think you’ll love it!

A side-by-side image of Houston, Texas and Dallas, Texas.

Houston vs Dallas: Where Should You Retire?

Both Houston and Dallas each one have their benefits and charm. It can be hard to pick one over the other. Let us help you weigh some of the factors to decide which one is right for you.

About 55places

We’re changing the way people 55 and older are searching for their perfect next place. With a national network of hand-selected real estate experts, plus comprehensive information, unbiased content, and on-the-go insight about thousands of communities across the country, we’re a trusted resource paving the way from here to home. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

Scroll to Top