Paying more for a home or anything else is never ideal. Mortgage rates are steadily on the rise. If you have the credit, the income, the means, and the desire to buy a home, moving forward with the process now can save you in the long run.

The Home Price Index report predicts that prices will continue to increase at a rate of 5.4% over the next year. (*Source: KCM , Bridge Builders)

Home prices will continue to rise as time passes. If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. (*Source: KCM , Bridge Builders)

According to CoreLogic, home prices increased in February and will continue on an upward trend. CoreLogic President and CEO Frank Martell stated that “Home prices continue to grow at a torrid pace so far in 2017 and these gains are likely to continue well into the future.”

Bloomberg.com reported that home prices in 20 U.S. cities rose at it’s fastest pace since 2014. Bloomberg also made the following key points:

• 20-city property values index rose 5.7 percent from January 2016 (forecast was 5.6 percent) after increasing 5.5 percent in the year through December
• National home-price gauge increased 5.9 percent in the 12 months through January
• Seasonally adjusted 20-city index advanced 0.9 percent from a month earlier (forecast was 0.7 percent)

According to Forbes.com, home values in Omaha, Nebraska are currently 44% higher than the city’s pre-crisis peak, the strongest recovery of the country’s 100 largest metropolitan areas. Over roughly the same period—since the first quarter 2012—inventory in Omaha is down 48%.

Because inventory is still on the low end, you could still have the upper hand as a seller in the current market too.

Otherwise, if now is the time for you to buy a home and you’re ready to explore your options, comment below or reach out directly with any questions.

Eric Almquist, Branch Manager (NMLS #623826): Office: (402) 933-1141 

Eric is a 19-year veteran of the mortgage industry who’s blessed to have remarkable client relationships. These relationships have allowed him to be recognized in the Scotsman Guide as one of the “Top 200 Loan Originators in the Country” since 2008. By leveraging his team and building clients for life, he’s fortunate enough to call myself a billion dollar producer!