Buyer’s purchasing power is increasing across the nation. That’s great for buyers because it means it’s easier to purchase a home and it’s also great for sellers because it means buyers can qualify for more money.
Hi, I’m Sherri Echols, Broker Associate with REMAX BCS. helping buyers and sellers right here in Bryan and College Station buy and sell their perfect home. Recently, First American did a report showing that home prices are up by +5.7 percent which would have a negative effect on buyer’s purchasing power, roughly $21,300, however, Mortgage rates are down .85% which actually means a buyer purchasing power would go up by $40,200. Also, wages are up by 1.5%. So if you take all of these numbers into consideration that means that a buyer’s purchasing power is actually up by $24,500.
This is great news, but some people are still feeling a little nervous about buying or selling because of all of the talk of the recession. While we know that a recession is coming, check out the study from Porch.com which shows that Americans choose Real Estate as the safest investment even over a savings account, gold, or stocks, and bonds. And don’t forget rental prices continue to go up and owning a home has substantial tax benefits, so reach out to me and I’ll help you buy your dream home or sell and get you a new one.
This is Sherri Echols, a helping hand for a happy home.
