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2017 Spring Home Buying Trends

The iServe Blog

Whether it’s your first house or your tenth, both knowing when to buy and what’s happening in the market are important to make a good investment. When you’re looking at buying a home, it’s important to keep up with the trends. The process may be complex, with agents, a residential mortgage application, earnest money, closings and other issues of concern. In this post, we’ll take a good look at what trends are upcoming for spring and what this means for your home-buying plans and residential lending needs.

2017 Spring Home-Buying Trends

Annual Trends

Every spring and summer, a certain cycle of trends occur virtually each year. Families who are considering making a move to a different school district or make a career change put their homes up for sale. The warmer weather makes it much simpler to move, especially compared to the worst cold of winter and heat of summer. This also gives new homeowners the opportunity to make any changes and get settled in before summer brings hot weather, children at home and vacations. This trend means that you may have a better selection of homes in the spring, as well as an easier time moving. Unfortunately, this may also mean spending a lot of extra time waiting for an appointment or to get the paperwork processed if you work with a physical residential lending mortgage office, filling out a residential mortgage application. But, when you work with an online residential lending company, the process may be completed more quickly.

2017 Trends

But what may be in the future for this year? Forbes identified several trends this year that may help homebuyers navigate the process more easily. The magazine predicts that prices may continue to rise slowly as wages may also be expected to rise. However, with the loss of the subprime market, homes may remain unaffordable unless the buyer is matched to the right mortgage. With the uncertainty that may remain in the market, mortgage rates may remain volatile, so securing residential lending earlier in the year may provide a better interest rate. With President Trump, some of the reactionary regulations set in place following the 2008 financial crisis may be rolled back, providing easier access to credit. An increase in new home construction starts may signal an increase in supply, the lack of which may have been behind home price increases last year.

By keeping up with changes in home-buying trends and annual cycles, you may be able to get a better deal, find the perfect home or get your existing home sold more quickly. But what if you’ve found your next home and need to act quickly to make it happen? If you’re ready to buy and need help in finding the right mortgage plan for your situation, please feel free to contact the professionals at iServe Residential Lending today to get started on a residential mortgage application.