LANSING, Mich. (WLNS) — The housing market has been a roller coaster the past year, but if you’ve been trying to buy your dream home, experts say now is the time.
Finding your next home may have been difficult this past year but now real estate experts say the market is both a buyer and seller’s market.
Earlier this year if you put an offer on a home you probably would have gotten denied because there was so much competition. Now, you most likely have a better chance.
“Over the last two and half three months, the inventory has actually more than doubled. So buyers have more to choose from,” said Jeff Burke, an Associate Broker at Keller Williams Realty.
Burke says it’s an even better time to sell.
“A lot of people are making that decision to get in the market, capitalize on the value that has gone up, secure their equity position that they’ve had as well,”
He says housing inventory increased because people are making moves now that they couldn’t do last year.
“A lot of people last year that wanted to make a move, couldn’t make a move. You had people that their intent was to go on to assisted living or something but weren’t able to do that you know with COVID. A lot of them are able to do that now,” he said.
Burke’s advice for buyers now…
“Stay the course, rates are still low. Knowing that you have more to choose from, you’re winning more than what you were 3 months ago,” he said.
Since the market is always fluctuating, his advice is don’t wait. It’s a good time for buyers and sellers.
“In my 26 years, I mean I haven’t experienced this… To have the interest rates so low and the inventory low, I mean it’s kind of a win win,” said Burke.