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Is Now a Good Time to Buy a House?

October 11, 2024

You may be wondering if now is a good time to buy homes in Prosper TX. The truth is, the best time to buy a house is when you are ready. You don’t have to wait for “ideal” market conditions to make your move.

A favorable buyer’s market is only one factor in determining if you should buy a house at any given time. It is helpful to have low interest rates, and in fact they are currently dropping as of October 2024. Rates are now more than a full point lower than at their peak in October 2023.

Another helpful factor in the current market is that homes for sale are not getting flooded with offers like they were in the past few years. Buyers aren’t vastly overbidding on homes, so you can purchase at a more reasonable price. However, demand is still higher than supply. Good homes sell fast.

Shop around for a mortgage and be sure you’re financially prepared to get the best rates. A credit score of 740 or higher will get you the best available interest rates. Make the best down payment you can while retaining money in savings for an emergency fund. If your finances are in order, get pre-approved for a mortgage so you can act quickly to purchase the house you want.

Any time can be a good time to buy if you’re ready. If your finances are in order and your life is leading you to a new home, don’t wait around for “perfect” conditions. You could be enjoying your new home much sooner instead of spending more time wondering if you should move.

Brand new move-in ready homes are available now in Dominion at Brookhollow in Prosper TX. These two story brick or stucco homes are 2,453-2,747 square feet with 4 or 5 bedrooms, 3.5 or 4 baths and 2-car rear-facing garages. Each home has a first floor main bedroom, a rear covered patio and 1-3 flex spaces such as a study, game room and/or media room. Homes in Dominion at Brookhollow start in the $600s.

Call new home sales managers Tanya M. Smith and Zach Lammie at 619-508-0261 to schedule a tour and visit the model home in the Dominion at Brookhollow community of new homes in Prosper TX.

This post was written by Landon Homes.