Though some are calling for an end to the indisputably seller-favored housing market soon, low interest rates and a continued housing shortage both present ample reason for buyers on the fence to stop waiting and jump already.
With a lot of sellers predicted to hang on to what they have in 2020, buying early in the season—in winter, even—will help buyers take advantage of continued low interest rates. The average for 30-year mortgages, according to bankrate.com, is no 3.70 percent, down from 3.77 percent in late January. Average 15-year rates dipped to 3.07 percent. Many market watchers expect younger buyers to jump into the housing market with both feet come springtime, making the already-tight supply of single-family homes even tighter, which inevitably will drive up prices and spark bidding wars nationwide.