Buyer's are beginning to reemerge this month, mortgage applications for home purchases rose 25% week over week. This is great news and many of these buyers are taking advantage of the market with seller incentives, slightly lower mortgage rates, and less competition.
In fact, a report from the national association of homebuilders, showed that 35% of builders reduced their home prices and another 62% offered incentives like rate buy-downs and paying points to attract buyers. Moreover, a report from redfin shows that at least 42% of homes sold during the 4th quarter (last 3 months of 2022) included an incentive.
If your thinking about buying, now could be an opportune time to take advantage of this winter lull and snag a great deal before the market begins to pick back up this spring. Click on the link to learn more.
