The KCM blog recently put out the InfoGraphic below. What do the numbers in the chart say to you?
The biggest difference in monthly payments from the highest to the lowest in the last 11 months was $75.01. Is $75 dollars a month worth playing the timing game?
Some may say yes, it is. Others find more value in buying a home on their schedule. According to the graphic; if someone has been waiting for the housing market to “hit bottom” since September of last year, they didn’t wait for much avail.
Either way the silver lining is that over the course of the last 11 months national home prices and interest rates haven’t fluctuated much. And with the most recent policy commitment from The Federal Open Market Committee (FOMC) to keep rates low, we don’t foresee huge spikes coming anytime soon.
As far as home prices; they should always be considered locally not nationally. Birchwood Park Homes offers some of the best values in the finest communities in New York and in Virginia. You can find your neighborhood here.
Source: Long & Foster’s Homebuyer’s Blog