According to the National Association of Realtors Home Survey performed in March 2019, most people would agree that now is a very good time to buy or sell a home.
- “Fifty percent of renters compared to seventy-five percent of home owners think now is a good time to buy.” Only thirty-five percent of people believe that now is not a good time to buy.
- “Those who are in the West (77%) are most likely to think that now is a good time to sell a home.” Only thirty-one percent of people believe that now is not a good time to sell your home.
For some more of the statistical facts and figures they found, visit the website article here.
As Realtors who work in the Real Estate business every day, we’d have to agree with what others believe as well, that now is a good time to buy or sell a home (at least here in Prescott, Arizona). We aren’t just being biased; this comes from our own experience and knowledge of the market right now.
Even though the market is projected to take a slight dip in 2020, it will be nothing near the crash we had over ten years ago, in fact it won’t be a crash at all – hence the word dip.
So, what will happen after the dip? The market will continue to go back up. With a good economy and competitive market, there’s really no waiting to be done here. “I’m waiting for the market to drop,” or “I’m waiting for the market to be less competitive.” Mortgage companies and realtors alike will tell you this isn’t likely. While you might get lucky and find a small pocket of time that’s “just right”, the reality is that the best time to buy is now so you can start building equity in your new home, rather than waiting and watching as the prices just continue to go up rather than down.
What do you think? Is now a good time to buy or sell a home?