You can do more than observe National Homeownership Month during June … you can celebrate by participating! Here are some reasons why now can be a great time to buy, whether you’re a first-time buyer or already a homeowner.
Make 2019 a year to remember
A booming economy in 2017 and 2018 contributed to a hot real estate market in the Northwest. This included higher home prices, fewer homes for sale, and rising interest rates. Many potential buyers decided to wait things out until the real estate and financial markets cooled off.
If you’re one of those who’ve been waiting for a better time to buy, here’s some good news. Not only have home prices stabilized in many areas, but there are also more properties for sale in Oregon and Washington
. And while interest rates were predicted to rise in 2019, they’ve been falling steadily since April.
More good news for homeowners
According to a Federal Reserve survey
, an American homeowner’s net worth in 2016 was 44 times greater than that of a renter ($231,400 vs. $5,200). Interestingly, since the previous 2013 survey was published, a homeowner’s net worth increased by 15% … but a renter’s net worth actually decreased by 5%.
The not-so-good news for renters … and how we can help
Although 2019 brought good news for homebuyers, the news wasn’t good for many renters. In addition to their net worth decreasing, rent costs continued to rise across the nation. Some cities have been harder-hit than others – for example, tenants in Seattle, Washington faced price hikes up to 8.0%
Ready to become a homeowner? Learn more about your options today.
If you’re tired of watching a big chunk of your monthly take-home pay going towards rent, why not take a few minutes to learn more about your home buying options? The skilled Mortgage Loan Originators at Equity Mortgage Group understand the unique needs of Oregon and Washington homebuyers and can introduce you to our inventory of loan programs, including those with low- or zero-down payment options. We’re bound to have one or more that will help you qualify for financing your next home.
Over the years, we’ve helped thousands of individuals and families become homeowners. But don’t take our word for it, see what other satisfied customers have said about us.
Contact an Equity Mortgage Group Loan Originator today
, and we’ll help you to begin your journey to homeownership.
Jun 10, 2019