There may never have been a better time than now to buy a home along the Jersey Shore. The housing market is strong and the economic climate is ripe. Here are three reasons you should buy a home along the Jersey Shore this summer.
According to the latest Home Price Index by CoreLogic, the price of homes recorded a year-over-year gain of 5.9 percent nationwide. They predict that home prices will increase by 5.3 percent over the next year as well. With home prices on the rise and expected to continue to do so it is only practical to buy now.
- Interest Rates
30-year fixed-rate mortgages continue to remain near historic levels. According to giant mortgage lender Freddie Mac, mortgage interest rates are averaging around the 4 percent mark. They are predicting that rates will rise over the next year. In fact, some anticipate that rates will rise nearly a full percent. An increase that large could easily impact your monthly mortgage payment and budget.
- Energy Costs
Lower energy costs means you can now afford more. Not only are we seeing lower prices at the pumps, electric bills are also lower in many areas.
Owning a home comes with many benefits, and there is no greater time to own a home along the Shore than now. If buying a home along the Shore is something you are considering this summer, we’d be delighted to take the time to show you potential homes and to answer any questions you may have about owning a second home. Our job is to make your tomorrow better than today. Contact us today via email or give us a call at 609-264-6762.