The weather is hot and the Knoxville real estate market is even hotter.
Homes are selling in a matter of days this summer and there are more buyers on the market than there are homes. While this may seem like this may be the worst time to think about buying a home, this summer may very well be an ideal home to buy a home…
In this post, we’ll cover some of the reason why you should buy a Knoxville home this summer
Despite news of interest rates increasing this year, interest rates are still historically low. Keep in mind, the historical average interest rate over the last 30 years was around 8%. So, where current interest rates still make owning a home extremely affordable.
With the economy improving, interest rates are only expected to rise more over the coming year. This means that current interest rates are the lowest they’ll be right now (unless of course, you’ve come up with a way to go back in time).
The weather makes buying a Knoxville home this summer ideal. The days are longer and the weather is warmer, which can make looking at houses much more ideal than looking during the winter.
The summer months can make looking at homes more enjoyable. With the kids out of school and multiple long weekends, the summer months tend to be more laid back, making looking at homes more enjoyable.
Even though inventory is tight on the current market, there are still many homes hitting the market. While you may find yourself competing with other buyers, there it at least is a steady flow of homes hitting the Knoxville market.
So, should you hit while the iron is hot?
Probably, so. It is expected that the current seller’s market will remain for the time being. So, regardless of when you buy a Knoxville home, you’ll be facing competition. At least if you buy a home this summer, there will be a steady inventory of homes hitting the market.
Finally, there are very few times where the market is ideal for selling one home then buying another home. In the current market, luckily, though you’ll find that the current market is one of those few ideal times.
Homes that are priced reasonably have been selling quickly and at or above the listing price. These homes are selling in a matter of days. This means that if you’re thinking about moving on to another home. The current market could be an ideal time to sell your current home and move on to another home.
Are you interested in buying a Knoxville home for sale? If so, please do not hesitate to let us know. Rick can be contacted at 865-696-9002 or via email at [email protected]. Kati can be contacted at 865-696-1888 or via email at [email protected]. Also, be sure to check out our Knoxville home search page to see what homes are for sale in the area.
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