Can renters afford to give the key back to landlord and buy real estate in Oxford?
A 2017 poll for National Association of Realtors® indicates that 71% of homeowners believe that it is a good time to sell. The trend has increased over the course of the year. Here are the current market trends of real estate in Oxford and Lafayette County.
Real Estate in Oxford
For buyers looking in Oxford, there is low condo inventory. Consequently, many buyers are forced to pay more for properties to beat out the competition. The strength of the seller confidence should correlate to more properties on the market. This should help stabilize the prices for buyers.
Pessimism of the economy’s direction is the driving force of uncertainty among households. This is especially relevant among renter’s sentiments. Renters are seeing their rental payments increase each year. Furthermore, Oxford continues to see its sales prices increase. As a result, many people will unfortunately be pushed away from ownership.
Purchasing real estate in Oxford can be a great investment
In a separate national study, 84% of Americans feel that buying a home is a good financial decision. While Oxford is still growing, if you have the financial means to purchase real estate in Oxford, it can be a great investment opportunity.