Interest rates are at a very low point, prompting an increase in home sales. Charla Howard with Golden Crest Reality says interest rates are forecasted to stay low into next year. She says last year, rates averaged 4.7% and this year rates are averaging 3.8%. Howard notes in 2013, rates will increase to 4.1%, but that is still a very low rate.
She says this should make buyers feel confident that it is the right time to purchase a home.
Howard adds this is a great time to sell a home because more people are looking than a few years ago creating more exposure. She says over the last 18 years, she has never seen a better chance for someone to purchase a home.