Fall Home Buying Outlook

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Fall Home Buying Outlook

September 18, 2020

As you may have noticed, this year has been a little different, and that has resulted in a lot of other things becoming a little different, including home buying. A lot of the expectations, both good and bad, have gone flying out the window. While the fall isn’t typically an active home buying period, that’s not necessarily the case this year. In particular, if you’re looking at Firestone CO new homes, this could be the perfect time to purchase.

For example, there’s been an uptick in new home construction, resulting in more new homes from which to choose, as well as the option of building from scratch. This is borne out by numbers recorded by the National Association of Home Builders, which has seen double-digit growth in new construction in June and builder confidence levels jumping 14 points in July. Creekstone is building some truly appealing homes in the Barefoot Lakes community in Firestone, as well as other communities and cities. Now is the perfect time to take advantage of the opportunity to invest in a brand new home with a warranty and outstanding building practices that will keep it functioning smoothly for years to come.

With more people working from home and kids attending school remotely, people are able to spend more time investigating new homes online first. Lives are still busy, but anyone seriously interested in buying a new home has more opportunities online now to explore a range of home designs and use features that allow potential buyers to create and design their dream home. Plus, with more children learning remotely still, some parents aren’t as hesitant to make a big move during the school year, which has traditionally slowed down home sales during the fall.

Ultimately, one of the biggest reasons why people are still actively buying new homes is the situation with mortgage rates. They have been consistently low all year, often reaching record lows. In fact, in August, average mortgage rates dropped to 2.88%, the lowest ever for a 30-year home loan. There are some suggestions that mortgage rates could even drop to 2.5% this fall if mortgage lenders start to feel the need to offer more competitive rates. Still, with rates as low as they are, now remains an excellent time to purchase a home, as you’ll benefit from significantly lower monthly mortgage payments and potentially get more home for your money. Locking in a rate now, rather than hoping for a few tenths of a percent, is a solid stance if you’ve found the home that you want.

Creekstone builds thoughtfully designed homes in various cities and communities in Colorado. If you’re in the market for Firestone CO new homes, explore the fantastic home designs that Creekstone has, as well as the emphasis put on building healthy homes. With great mortgage rates to help save you money, as well as energy efficient homes that also save you money — and provide cleaner air to breathe — Creekstone Homes should be at the top of your list.

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