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THE TIME TO BUY IS NOW!

Wednesday, November 25, 2020   /   by Robert Hunt

THE TIME TO BUY IS NOW!

If you've been considering purchasing a new home, our research shows that putting off that decision any further could cost you. Here are a couple of key reasons that you should consider buying a home sooner rather than later:



Housing prices are healthy and growing. In fact, in 2015, prices increased 5.7 percent on average in the United States according to the S&P Case-Shiller U.S. National Home Price Index, and they're expected to continue on that trajectory. At this rate, a $200,000 home could cost you $211,400 next year and $223,450 in just two years.

Interest rates are still low. According to Freddie Mac, the average rate on a 30-year mortgage in 2015 was just 3.85 percent. If you had a $200,000 mortgage at this rate, your payment would be $938 a month. However, the Federal Reserve may raise rates in the near future. At 8.90 percent, which is the historical average interest rate, your payment would be $1,595. That's a potential increase of $657 a month!

Our commitment to supplying you with the relevant economic data you need is the key to finding your new home. Contact us today to begin your home search!

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Hunt Group Realty
Robert Hunt
101 Cosgrove Avenue, Suite 200
Chapel Hill, NC 27514
919-951-1818

Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Copyright 2024 Triangle MLS, Inc. of North Carolina. All rights reserved. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.” Listings were last updated July 21, 2024
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