We are facing a challenging time as we work together to combat COVID-19 in our country and even our own neighborhoods. With so much uncertainty in the air, is it a good time to think about buying a house? Especially as a First-Time Home Buyer?
The housing market can be highly seasonal, sales are typically low through the start of the year and then heats up in the spring and through the summer, like the weather. Unfortunately, the COVID-19 pandemic has changed those trends because of lockdowns and social distancing measures. The number of homes sold has fallen but prices appear to be holding steady for now.
Are there any benefits to becoming a First-Time Buyer right now?
Interest rates have been dropping to an all-time low as a response to the COVID-19 pandemic. Real estate is one of the largest economic sectors; lowering the interest rate is an attempt to entice more people to purchase a home.
There are also various government incentives that may help first-time buyers...