On the fence about making the move to a new home before 2019 draws to a close? It may be September, but there’s still time! In fact, now is a great time to purchase a new home. Keep reading for three reasons why you should purchase a new home in 2019.
Home Prices are Increasing
As inflation and commodity prices increase, so do home prices. The graph below shows just how much new home prices have risen from 2011 to 2018. Just 8 years ago, a new ranch style home averaged just under $200,000 while a two-story home averaged $240,000. Today, both types of homes cost significantly more at right around the $320,000 range. New home costs continued to rise in 2019 and show no signs of stopping.
Mortgage Interest Rates are at an All-Time Low
This year, mortgage rates were expected to rise 5%—and possibly higher! The good news is, rather than reaching an all-time high, rates have stayed pretty steady throughout the year. Below are the average mortgage interest rates for conventional 30-year fixed, 15-year fixed, and 5/1 ARM mortgages during September 2019.
- 30-year fixed mortgage = 3.87%
- 15-year fixed mortgage = 3.29%
- 5/1 ARM mortgage = 3.96%
For the most up-to-date interest rate information, check out Zillow’s Mortgage Rate Update.
More Homesites to Choose From
The Omaha area has more homesites available than ever before. New communities are popping up throughout Omaha, ensuring there are plenty of homesites to choose from. Whether you prefer to be in the coveted Gretna school district or are looking for a place to retire in style, finding the perfect homesite to suit your family’s needs is a breeze.
Need a place to start? Regency Homes has a wide variety of homes and lots available in the Omaha, Nebraska area. Whether you’re looking for a move-in ready home or want to build a home from the ground up, we’ve got you covered. If you’re ready to move into the home of your dreams, get in touch with our team today. We’d be happy to tell you about the communities we build in and any of our available homes.
Recent Comments