House shopping: The time to buy?

January isn't normally a busy month for home sales, but a lack of inventory and an expected interest rate increase have many real estate experts urging buyers to start looking now.

Posted: Jan. 8, 2018 12:10 PM
Updated: Jan. 8, 2018 12:10 PM

(NBC News) The conventional wisdom is January is not the time to be looking to buy a home, but many real estate experts are beginning to take a different view.

Scroll for more content...

"It's actually a good way to get in, especially as that new inventory starts to hit the market, even at the end of January," says CNBC's Diana Olick.

Olick and other real estate experts say the lack of inventory of homes available for sale will drive the market in 2018.

"Supplies are still near record lows and demand is so high that as soon as those homes come on the market, if they're well-priced, they will get eaten up," Olick notes.

Federal mortgage lenders are predicting an increase in home sales this year, even if interests rates rise from their current rate of just under 4-percent. That expected increase could further fuel the race to buy.

Read more: http://cnb.cx/2CT6TiZ

Article Comments

Utica
Overcast
52° wxIcon
Hi: 53° Lo: 42°
Feels Like: 52°
Oneonta
Overcast
53° wxIcon
Hi: 57° Lo: 42°
Feels Like: 53°
Herkimer
Overcast
52° wxIcon
Hi: 53° Lo: 43°
Feels Like: 52°
Thendara
Overcast
52° wxIcon
Hi: 52° Lo: 37°
Feels Like: 52°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather