If you have a great job where you can work from you, you may want to consider something a little bigger with an extra room for an office. You will be able to focus and perform much better for your clients with the extra space. But is right now the time to buy a home?
Home sales in June
When it comes to home sales, the month of June was great for everyone! People who were holding onto their houses waiting for a small price jump sold out, and then they went out and bought new houses within days. The improving economy also led to more people with jobs looking for homes. There are more freelance jobs available, and that means more people need bigger homes with offices in them. All in all, houses were selling fast, and that was really great. Unfortunately, it didn’t last long. The month of July didn’t look as good.
Looking at July statistics
In July, there was a slowing of existing home purchases, according to Bloomberg. The reason for this may be that mortgage rates increased slightly. Anyone who thought it was a good time to buy last month may feel like they have missed their shot this month, or maybe they are waiting for it to decrease again. Either way, fewer people are buying. Unfortunately, there is a little bit of other bad news.
Bad news or good news
Here’s the bad news, or maybe it is good depending on where you stand. Mortgage rates will not be going down again. The Federal Reserve has to stop subsidizing loans if our country is ever going to get out of debt. We all knew this wouldn’t last forever. That means you had better get up and buy a house as soon as possible! Get something that you are comfortable with. Make sure it has the room you need to get work done from home. If you are going to be a freelancer and get the work done to support yourself, you will need to be focused in a room that is just for you. Why not get a house with an extra room? Rates aren’t up too much yet!
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