WOndering if its a good time to Buy a Home?

Despite recent fluctuations in mortgage interest rates, there has never been a better time to buy a home than now. While U.S. existing-home sales declined 2.4 percent month-over-month, it's important to note that this follows February’s sales gain of 14.5%. Additionally, pending sales increased by 35.0 percent for Single Family homes and 37.7 percent for Townhouse/Condo homes, showing that there is still a strong demand for homes.

The median existing-home sales price declined for the second month in a row, falling 0.9% nationally from the same time last year, which can be a great opportunity for buyers looking to get a good deal. New Listings in Washtenaw County decreased for Single Family homes but increased for Townhouse/Condo homes, indicating a more diverse range of options for buyers.

Furthermore, the median sales price in Washtenaw County increased for both Single Family homes and Townhouse/Condo homes, showing that the housing market remains strong. While days on market increased for both types of homes, this should not deter buyers, as it's still a great time to make a purchase.

Although housing inventory remains tight nationwide, with only 980,000 units available for sale heading into May, there is still a great variety of homes to choose from. While competition for available properties remains strong, this is a positive sign that the housing market is thriving. So, for anyone looking to buy a home, now is the time to take advantage of the current market conditions and find the perfect home for you and your family.

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Meet the DMA Real Estate Team

DMA Real Estate is a team of experienced, licensed real estate agents serving the Washtenaw County, MI metro area. With a proven track record of getting results quickly and a direct line of communication at all times.