Home Buyers and Sellers: Should You Wait Until Spring?
Posted by Blog Admin on Monday, February 10th, 2020 at 11:38am.
This past weekend brought an unexpected blast of winter to North Georgia, reminding us all that no matter what happened on Groundhog Day, Spring is still many weeks away. Maybe you’ve heard that the best time to buy or sell a home is during the busy spring market, traditionally the hottest time of year in real estate. However, in 2020 that old “rule” has been upended.
January 2020 was one of the busiest on record for Peggy Slappey Properties agents. Traffic in new home communities is way up from previous years at the same time, and resale properties – especially in Gwinnett County – are hot. This is great news for the metro Atlanta real estate market, and even better news for both buyers and sellers.
Inventory Remains Low
If you’ve been waiting to sell, the time is now. There are more buyers in the market each day, with fewer homes to look at. While new homes are going up across the area, construction is not quite keeping pace with demand. It is a seller’s market, the optimal time to get top dollar for your home.
Interest Rates Lowest in 2 Years
Buyers: Now is the time to secure a mortgage with a low, low rate. Interest rates for conventional, 30-year fixed loans are near historic lows – just 3.45% as of Thursday, February 6 according to realtor.com. If you qualify, this low interest rate will save you thousands and lower your monthly payment. Get started by using our Mortgage Calculator to estimate your monthly payment, then contact a PSP agent in your area to connect with a trusted lending expert. They’ll help you determine how much house you can afford, get you pre-qualified, and help you lock in that low, low rate.
If you’ve been waiting until the weather warms and daffodils start blooming to buy or sell a home, don’t wait any longer! It’s a fantastic time to jump into the market, with home prices remaining affordable and interest rates near historic lows. In 2020, the spring market has already sprung!
Peggy Slappey Properties, Inc. is a Metro Atlanta real estate brokerage with more than 35 years of experience in real estate sales and marketing. From new home construction to resales, we can help you find the home of your dreams. To see our current listings, visit www.psponline.com and call us for expert advice at 770-271-5555. Keep up to date with the latest PSP events and offers by checking in on Facebook at https://www.facebook.com/peggyslappeyproperties and on Twitter at https://twitter.com/psponline.
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