Trends in real estate are constantly changing, and during the housing recovery, we saw a huge range of fluctuations. Now, things are looking better than ever. Here are a few real estate trends we’ve seen this fall, and what we can expect in the months to come:
1. Prices have risen, but are cooling
Rising home prices are always welcomed news in the housing market. It means that the economy is doing exactly what it should be: recovering. And what’s best about the fall season? Rising home prices tend to slow. This means that prospective homebuyers can buy a new home, in an improving market, but at a lower price than they could’ve a few weeks ago.
2. The homes are better
Since the economy is recovering, we’ll continue to see new homes popping up on the market. Not only are they newly built, but they’re built well. At least, we know this to be true in Bayside! With the addition of three new builders, Bayside has become a diverse and colorful community that offers so much for its current and future residents.
3. Homes come with more
This might not be a national trend, but it is certainly a trend in our community! In Bayside, your new home comes with so much more. Amenities, community features, and great neighbors are all apart of the Bayside culture. When a homeowner moves into a our neighborhood, they can expect the best!
4. Delaware’s new homes will see a boost
Naturally, Delaware and Fenwick Island are known as vacation resort destinations. Now that the economy is back on track, we have seen improvements in the Delaware housing market. This allows for even more people to enjoy this coastal town!
5. Mortgage rates are settling
Mortgage rates jump around week to week, but this fall season, they’re expected to level out around 4.5 percent on a 30-year fixed-rate mortgage. While they’re changing all the time, locking one in now will determine how much money you spend over the next 30 years. They might be low, but they won’t stay this way for too much longer!
6. It’s a buyer’s market
There’s no doubt that this is one of the greatest times to buy a home. With endless choices on the market, like the numerous home options in Bayside, and steady mortgage rates and low home prices, there’s every reason to jump into the market and buy your ideal beach community home.
Source: Money News