Can you remember back to high school? Remember Mr. Miller’s Economics 101 and the rule of supply and demand? At Monte Hewett Homes, we definitely remember it well, so we’re offering you 3 reasons that long ago econ class will help you live better in the future.
- Less Supply in the market = Higher Prices
We see it everyday driving by a gas station: prices are going UP on most consumer goods, especially gas. Given the housing situation across the country many builders aren’t building additional homes, but they continue to sell inventory. Obviously, with a smaller supply of new homes on the market, Atlanta home prices will begin to rise, especially in high demand areas such as Buckhead and Roswell.
- Sales and economic stimulus packages have short time-frames
Yes, there are lots of deals out there on new homes, but given reminder #1, they won’t last forever. Homeowners are waiting for “the very best deal.” However, waiting is causing many homeowners to lose locations, homes, and the deals that were once offered. Nothing lasts forever, and the deals offered by many Atlanta home builders will disappear without notice.
- Mortgage Rates will be the first to rise
With new concerns about inflation and the deflation of the dollar, interest rates will soon go on the rise. The idea is to be ahead of that curve, and with interest rates showing a very slow increase over the last several weeks, now is the time to take advantage.
Mr. Miller (or whoever taught your Econ 101 class) was right. Supply and demand play a big part in our daily financial lives. Are you going to wait? Or have you learned your lesson? Today’s interest rates are incredibly low, with builders like Monte Hewett Homes offering 3.5 on 30 year fixed rates. Builders are still offering deals, like “It’s a Big Deal” deals from $5000-$125,000 on select homes, and most builders are finally seeing reductions in their inventory. Three great reasons to make the buying decision today.