What is happening in the US housing market?
Home sales fell 2 percent from August 2023 to September 2023, the National Association of Realtors says. New York home prices and inventory are also dropping. Is it a good time to buy a house right now? Only you can know what the right financial decision is for you. Statewide, the median sales price reached $405,000 in the second quarter of 2023, which is a 1.8% decrease year over year. That's 2.7% lower than the national median home price of $416,100. If you are ready to make a purchase, we have detailed knowledge and experience of every step of the process from every imaginable point of view, AND as a client, with Handel & Carlini LLP, you have easy and reliable access to your attorney to help you navigate the process.
Here’s a few tips to keep in mind:
Go in with a plan and understand the process.
Mortgage rate lock - Rather than checking rates daily, consider locking in your interest rate.
Adjustable rate mortgages - A great option for buyers looking for an initial lower payment or buyers who don’t see themselves staying at the house for long.
Have a trusted team - Trusting your team is vital. When choosing your realty team be sure to choose someone local and knowledgeable.
Stay in the know with rates - Instead of monitoring the day-to-day fluctuations, look at long-term trends within the market.