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Is Now the Time to Buy a Home?

Written by Ilyce Glink on June 5, 2013 in Real Estate  |   10 comments

Affordable homes and low mortgage interest rates have many consumers wondering if now is the time to buy a home. Experts Ilyce Glink, Steve Cook and Amy Crews Cutts explain how mortgage rates, home prices and credit availability are impacting today’s real estate market—and what it all means for you.

buying a home, real estate

Update 6/21/2013: If you missed the “Is Now the Time to Buy a Home?” webinar, click here to view and listen to it in its entirety.

The real estate market is recovering, and mortgage interest rates are at an all-time low. Is now the time to buy a home?

According to Steve Cook, former vice president of public affairs for the National Association of Realtors and Equifax Finance Blog contributor, there are other issues at play. A number of hurdles stand in the way of potential homebuyers and their dream homes, including a limited inventory of homes on the market (with rising home prices as a result) and tight lending standards.Home prices are rising—great news for sellers—but are we facing another housing bubble like the one that got us here in the first place? And how long can the Fed keep interest rates this low?

“This has been a topsy-turvy recovery,” Cook says. “Instead of being led by a strong demand for housing, as in virtually all former housing recoveries, this one is being led by a shortage of homes for sale.”

If you’re wondering if now really is the time to buy a home, you’re not alone. Get your questions ready and join me, Steve Cook, and Equifax Chief Economist Amy Crews Cutts for the “Is Now the Time to Buy a Home?” webinar on Wednesday June 19th at 1pm ET.

We’ll discuss what’s really going on in the housing market and what you need to know if you’re considering buying a home this year.

 

10 comments

  1. William Snyder says:

    DARN!!!!……I am making an offer on a house this coming Monday…I will not be available Wednesday…Will there be a transcript for reading?

    • EFX Moderator, EM says:

      William, congratulations! It sounds like you think it’s the time to buy a home. We will be making the webinar available after the presentation. Check back to the blog to see it posted. I hope the information helps and good luck on buying a house.

  2. love this house says:

    What is the risk of buying a home that has been treated for tearmite? Will they come back to a house that has been treated?

    • M.M.C. says:

      I am unavailable for the webinar on the 19th. Will you provide a printed version. I really need this information.

  3. love this house says:

    Found this wonderful house. However it has a septic tank. What can you tell me about septic tank care. It there a certain type of products you have to use?

  4. Deborah Sobers says:

    I’m trying to buy a house. I’m a first time home buyer. I qualified under tow programs, UDHA and VAHA. I can always find a home under VAHA, which has a higher interest rates in the area’s I’ve been looking. No one can tell me what area’s the UDHA. Do you know where I can find this information?

  5. Stacy J. says:

    What is the least amount of down payment expected nowadays? How can one be assured that they are getting that deal?

  6. Bricine says:

    My wife and I are planning to buy a home this year. We are both first time home buyers here in Smyrna of Atlanta, Ga. Whom are planning to have private financing that has agreed to do this for us due to both of our beacon score range. The major issue is the price range of homes in the area where we reside and need to be. One particular home we love is in Smyrna but is near vinings and the price definitely reflects it. this is the issue with well over the majority of the homes we have researched. We won’t live beyond our means, however we are under the impression the market is on it’s way back up. We are nervous of private financing, and lease to own contracts. What is the best and safest way to purchase a home?

  7. Pamela B says:

    I’m in the beginning process of buying a home and a real estate agent told me that if I have a car loan under $7000 the lender to don’t look at that amount because it’s close to being paid off. I was wondering is this true? I thought lender looks at everything.

  8. Berj Tashjian says:

    I am in the process of buying a home and currently am in contract. However I do have to remove my contigencies to go forward or not within the next 10 days. I am very sorry that I missed the webinar, by not noticing the time zone as I am in California. Is there a possiblty that you will post or provide a copy of the transcript. Thanks.


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