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Did you know that the best way to understand real estate is to study real estate statistics? It’s true, and looking at the numbers may help you get a great deal on a home.
For example, if we take a look at the statistics for home appreciation, we see that the appreciation window for homes in our area only lasts for short periods of time—really only about four to six weeks in April and May.
What does this mean for homes on the market right now? Right now is actually the best time to get a deal on those bargain homes, since prices are down about 1% to 1.5%. This is the time when you can really find those deals.
The appreciation window lasts only for about four to six weeks.
If this trend continues the same way that it has been over the past four years, we’ll see home prices increase about 5% to 8% next spring. This will cost you 6.5% to 9.5% more for a home! This means that right now is the best time to buy a home.
If you need any help buying a great home at a great price or have any other questions related to Austin real estate, give me a call or send me an email. I’d be happy to help you!