Thinking about buying a home in 2018?

For many Americans, 2018 will be a great year to purchase a home. The U.S. economy is on solid footing with strong job growth and low unemployment; mortgage rates remain low and the housing market is thriving in most areas of the country. If you’re thinking about purchasing a home this year, consider getting your financial house in order and starting your home search before the busy spring and summer home buying seasons begin.

Why? Summer is historically the most popular time to buy a home. Home buyers in January, February and March face much less competition from other buyers than they do later in the year. Research also suggests you could get a better deal early in the year. Financial website NerdWallet.com, for example, crunched two years of Realtor.com data for the 50 largest U.S. housing markets, and found that selling prices dip in the first quarter of the year.

There’s also the issue of mortgage rates. While mortgage rates remain low, several organizations, such as the National Association of Realtors and Mortgage Bankers Association, predict that mortgage rates will increase over the course of the year.

Starting the home buying process early also gives you plenty of time to order your credit report and make sure there are no errors in your credit history that could lower your credit score. Before you start to look at homes, you’ll want to apply for mortgage pre-approval and find a reputable real estate agent to help guide you through your home buying journey. Ready to get started? Give us a call.