Are you thinking about purchasing a home, but media headlines have you wondering if we’re headed for the next housing bubble? The media often looks at the reports to create the most eye-catching headlines, even if they don’t tell the real story.
For example, the Mortgage Bankers Association released their mortgage application data showing that mortgage applications to purchase a home fell 5% last week.
They assume the reason for this is a slowing housing market. Meanwhile, homes have appreciated by 14% over the last year due to more demand than available supply. This underscores the strength in the housing market.
The likely reasons for the drop in mortgage applications are because inventory is very low and because there is a significant increase in cash buyers.
It appears that the housing market is still on solid footing, but each individual situation is different. I have tools and resources that can help you make more informed decisions.
Contact me, Christopher Graves, your certified mortgage advisor, today at 978-376-5389 to get started…