Are you still humming and hawing over whether it's a good time to purchase a new home?
According to the latest NAHB Report on the Economy, the single family housing market is improving after a slight pause in April. What's driving this? The affordability of housing. In other words this is a great time to shift from renting to owning. Keep in mind that as more homes are scooped up, the demand also goes up and housing prices will climb.
My wife and I purchased our first home 11 years ago. I wish in hindsight that we had jumped in a little earlier. The reason we didn't was because I didn't know what we could afford and assumed we couldn't afford to purchase a new home.
According to The NAHB/Wells Fargo Housing Opportunity Index "more than three-quarters of all existing and new homes for sale are affordable for an average family’s income."
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