Folsom & Sacramento HomeBuyers: It May Be the Perfect Time to Buy!
If you’ve been sitting on the sidelines, it may be the right moment to jump into the Folsom/Sacramento housing market. A shift is underway, and mortgage rates have dropped to their lowest level in 19 months, offering homebuyers an incredible opportunity to make their move.
The Best Time to Buy a Home Is Right Around the Corner
Experts at Realtor.com have identified the week of Sept. 29–Oct. 5 as the best time to buy a home in 2024. During this week, the market typically offers the perfect balance of high inventory, lower prices, and reduced competition from other homebuyers. This may be your sweet spot for getting a great deal on a home.
Mortgage Rates Hit a 19-Month Low
Recent drops in mortgage rates are making homes more affordable than they’ve been in nearly two years. Rates falling below 6.5% made August the most affordable month for housing since February.
Lower rates boost your purchasing power, allowing you to get more home for your money or lower your monthly payments.
More Homes on the Market Means More Choices for Buyers
With a 35% increase nationally in homes for sale compared to last year, you’ll have more options than ever before. Ralph McLaughlin at Realtor.com explains:
“The number of homes actively for sale continues to be elevated compared with last year and now sits at the highest since May 2020.”
This gives homebuyers more negotiating power, as sellers are motivated to move their properties in a slower market.
Ready to Make a Move? Let’s Get Started
With rates low and more homes on the market, this is the ideal time to make your move in Folsom. Let’s connect today and get started on finding your perfect home! Call Margaret today.
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