First Single Family Home purchase in Fresno, CA
Hello all,
My GF and I are in the process of buying a new construction home in Madera, CA (Fresno County). I wanted to ask what the general consensus is in regards to if people think the market will implode soon, or if now is an excellent time due to interest rates. There is a lot going on in the economic/monetary world, and we are total newbs. Any insight is appreciated. Thank you
Most Popular Reply
My crystal ball says the economy as a whole will not be imploding soon.
Fed plans on keeping interest rates low for the foreseeable future and that helps keep home prices higher. Construction has still not caught up to demand either. Of course, elections have consequences and that could certainly change things if newly elected officials drastically change policy.
Real estate is local. Look more closely at your local area and see what the trend is there. Are people moving there? Is there a lot of houses for sale or very little? Are there jobs there? Those will usually matter more in the long run than how the economy as a nation is doing.
best of luck with your new home purchase!