February might be better known for its cold weather, romantic holiday, and shorter calendar, but there is something else it should be known for…….a great month to buy a new home! It’s true! Research from Realtor.com shows that February is the ultimate time for buyers. Still not convinced? Check out 3 reasons why experts recommend purchasing your Dallas area home right now!

 


Interest Rates are Lower.

According to Realtor.com chief economist Jonathan Smoke, interest rates are expected to be half a percent more as the year progresses. This means buyers in the later months will be faced with mortgage rates of almost 5 percent. It makes sense to lock in the lower interest rate now.

 


Home Prices are Lower.

Realtor.com collected home pricing data over the course of 2 years in 50 of the most populated markets in the United States. It showed that on average January and February home prices were 8.45% lower than those in July and August, the most popular homebuying months. Since the savings in home prices won’t be as large in 2017 as they have been in the past due to the strength of the market last year, it makes sense to take advantage of whatever savings are out there to get the best deal on a new home.

 


Competition is Lower.

Data shows that January home sales are 47% lower than they are in June. This number reflects that there is less competition amongst buyers. Buyers often enjoy the same amount of inventory on the market but have fewer fellow buyers to contend with. This often results in homes being sold for less than the listing price since sellers are more willing to negotiate.

 

 


Take advantage of these reasons to Buy a new home this February! Check out our current Homes for Sale to begin your journey. Give Group Watson a call today or visit our website at http://www.groupwatson.com/.