The latest August report shows that the housing market has returned to pre-recession activity and pricing.
This is great news for current home owners thinking of selling but is concerning for first time home buyers. Interest rates are going to slowly start inching up raising the cost of being a home owner even more for first time home owners. If you are renting or considering buying my question is what is holding you back? I strongly suggest that you speak to a mortgage broker see how much you qualify for and to a Realtor to see what's available in that price range. You will be saving yourself thousands of dollars and will be grateful you go this advice later in life.
Home owners thinking of selling should consider doing the same as it depends where you want to move and the type of home you are looking for. It's all a demand and supply game. If you are looking at a larger detached home you can wait to sell and net out making a nice profit. If you are looking at smaller detached, semi's or town's - you are competing with new home owners which drive up the price per square footage.
Bottom line thinking of selling or buying your first home - speak to someone you trust to get the right advice and knowledge.
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