Summer is usually the housing industry’s busy season for good reason, but a few things could make 2017 one of the best opportunities to buy for a long time.
1. Housing inventory is shrinking
An interesting trend this year? Tightening housing markets. Across the country, inventory has started to drop, and experts don’t see that changing any time soon, thanks to baby boomers choosing not to sell and developers responding slowly. If you really want options, summer is your best chance to find them.
2. Moving with children will be a whole lot easier
Buying a house and moving when the kids are out of school makes a lot of sense for families. It keeps children from missing too much school and gives them the opportunity to adjust before starting back up. Even if you don’t have children, the increased activity in the market from families selling, buying, and moving opens up opportunities–so keep any eye out.
3. Home prices are rising
When supply is tight and demand is high, prices rise. While it’s always possible for them to dip again, industry experts say that is unlikely to happen in the near future. So if you’re hoping to buy over the next few years, this summer is your best chance before prices creep higher.
4. The weather is better for moving and home improvements
If you live northern parts of the country, then you know that for half the year outdoor work gets unpleasant. If you’re buying a fixer upper—or even just doing the moving on your own—summer and early fall offer you the most daylight and the best weather for getting the job done.
5. Interest rates are low, but rising
After years of low interest rates, it’s hard to believe that they used to routinely hit double digits—or that they could again. Right now, interest rates are still historically quite low at under 4%. But they’ve already spiked twice so far this year, and most industry experts expect to see that rising trend continue throughout the rest of 2017 and into 2018.
Adrienne Deans-Craven Broker/Owner
I have been a real estate agent in the Wake and Johnston County areas since 1997. My experience has ranged from general brokerage (existing and new home sales), onsite sales- new construction, land transactions, assistance with subdivision development, and the distressed market (short sales and foreclosures).
I have received awards and acknowledgments for my accomplishments in the real estate industry but my real joy and pride comes from knowing that I have done right by my clients.
I know when to be serious and strong, but it is important to me to have fun in the process. I have developed very strong friendships with my clients over the years. I feel like I have a HUGE extended family. We look out for one another!
Specialties: Helping buyers determine their long term needs. Giving them tools and information to make a good investment, as well as lifestyle choice.
I help sellers understand our local market place and educate them on what it takes to get their property sold.