Should I Follow Housing Market Trends When Buying A House?

No one can blame you if you want to find the ideal situation when it’s time to buy a new house.  A house represents a significant investment and the one you choose may end up being your home for years or decades or even forever.

Prospective home buyers try lots of different methods and techniques to get out into the market at just the right time.  But should you try to follow the housing market trends in your area to get yourself the best possible deal?

What’s Important?
When trying to follow housing market trends, many experts believe there a couple of important factors to consider above all else.  First, the current prices of the homes in the area you are looking are a valuable indicator.  Have they gone up or down over the past six months to a year?  If it seems like they have peaked and are expected to take a dip, you may want to be ready to start making offers when that happens.

Second, is the inventory of homes for sale getting bigger or smaller?  If the number of homes on the market keeps growing, then supply is higher than demand and you may notice a dip in prices and greater selection.  If the number of homes on the market is getting smaller, then more buyers will be competing for fewer homes and prices will rise.  It doesn’t take too much work to discover if there are more or fewer homes on the market, but you still may want to get some professional help.

Expert Advice
Real estate agents are the experts and part of their task when representing you is to notice the trends and let you know what’s going on.  There is obviously more to it than just the factors listed above, and enlisting the help of an agent will give you the most and best possible information.

When you first start the home hunting journey and first sign up with real estate agents, make sure that you completely explain what you want in all aspects of the property.  If real estate agents know everything there is to know, they can follow the trends and find you what you need.  This will save you time and a good deal of stress, because you won’t have to worry about missing anything.  It is possible to follow the trends and get a great house deal yourself, but using an agent is even better.

As a mortgage broker, Brian Embry uses his freelance writing to inform the public of the tricks and tips of buying homes and references Slavens & Associates Real Estate Inc for up-to-date date real estate listings. Visit their website for more information, http://www.slavensrealestate.com.