The real estate landscape is always evolving, and today’s market is no exception. As possible homebuyers in Pennsylvania, it is essential to ask: is now a great time to buy a house? With market trends changing and other economic variables, the answer requires an understanding of current conditions and how they line up with your financial and personal goals. Read on to learn more!
Read more: Advantages of New Home Buying in the Current MarketUnderstanding the Current Marketplace
The housing market is based on a true supply and demand cycle. Right now, we’re in a seller’s market since there are fewer homes available for sale. Usually, once mortgage rates are low, buyers have more money to spend, which increases the demand and drives up home prices. So, while interest rates can become more attractive, the price of homes on the market can increase. It is also important to understand the different factors contributing to a house’s cost. In the current market, housing costs are influenced heavily by the rising cost of land, energy, materials, and potential government regulations. The bottom line is a house you like today will more than likely cost more to purchase next year. Most would argue that the appreciation of a New Home generally accelerates quicker than existing home.
Defer Your Decision to Build a New Home and Miss out on Potential Opportunities
J.A. Myers Homes builds throughout Southern Pennsylvania and Northern Maryland. There is a wide range of house types, designs, price ranges, and geographic locations. We are continuously selling at a brisk pace, and opportunities come and go. The good news is we are also adding New Home buying opportunities. If your need is right now, J.A. Myers Homes has an array of Move-in Ready homes in nearly all of our communities. Just visit our Move-in Ready page!
Attractive Offers and Other Incentives
J.A. Myers Homes offers incentives to help buyers better afford the homes of their dreams. Incentives are always adjusting but generally include offers like seller’s help, interest rate buydowns, and adding options and reduced at no cost. In many cases, a buyer can work with the builder and lender to determine which incentive makes purchasing a home more attainable and attractive.
Refinancing as an Option in the Future
If you believe that current interest rates are not as low as you’d like, consider the option of refinancing when the rates drop to a much more comfortable level. This option could adjust your mortgage to better suit your evolving financial situation, offering peace of mind when buying a home in today’s existing market. While you are waiting for a slightly lower rate, prices continue to increase.
For Any Home Building Needs, Contact J.A. Myers Today!
J.A. Myers Homes stands as a beacon of innovation, commitment, and inspiration in the homebuilding industry. With move-in ready homes and a dedication to building your dream home in one of our communities or on your own land, we are prepared to help. We’re dedicated to serving customers in Hanover, Gettysburg, Stewartstown, Dover, York County, Adams County, and Carroll County! Visit our website, reach us at 1.800.368.9990, or check us out on Facebook, X (formerly Twitter), Instagram, Linkedin, Pinterest, YouTube, or Houzz!
