Though homebuyers found it difficult to purchase a home recently due to higher interest rates and soaring gas, grocery and energy costs, things are beginning to look up as the new year brings an improvement in overall home sales in the Pacific Northwest. Thurston County is home to some of the most stunning landscapes in Washington, and thanks to a decrease in mortgage rates, your dream home is now within reach!
Good News for Homebuyers!
Freddie Mac released new research earlier this month spelling good prospects for potential homebuyers. The average rate of a 30-year fixed mortgage has dropped significantly to 6.12% as of February 9 (previously around 7% in November 2022). This makes homeownership an achievable goal for the three million Americans previously unable to qualify and afford the median price of $400,000 in the U.S. housing market.
George Ratiu of Realtor.com shares that the lower rate means a reduced down payment requirement on median priced homes when compared to last year. He added, “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.” Both brokers and buyers welcome the declining rates and improving inventory and agree now is the ideal time for those looking to purchase a property!
Home Sales Are Picking Up In The Northwest
Here at Rob Rice Homes, we have always listened to the needs of potential homebuyers. This was illustrated when we offered a significant discount for our bestselling neighborhoods in November 2022 to make it easier for potential Thurston County residents to find their ideal new homes.
The news of lower mortgage rates has led to significant growth in open house traffic and around a 20% increase in our website visits — clear indicators of potential homebuyers’ positive reception to the changes in the market. Rob Rice shared, “It is obvious that there is a lot of pent up demand for new housing in Thurston County. The market is strong and will continue to be strong in our county.”
Luxury Homes Nearly Sold Out
Take Advantage of Our Available Homes Today!
Now is the time to purchase a home in Thurston County! Rob Rice exclaimed, “With our record sales in one week, it is evident that buyers have realized that interest rates will remain steady and available homes are diminishing.” With a collection of in-demand properties available at incredibly competitive rates, this is the perfect opportunity to act now and secure your dream house in northwestern Washington.
For more information on how to purchase one of these impressive homes in Thurston County, go to robricehomes.com and explore our communities or complete this quick form, and the Rob Rice Homes team will be happy to contact you!
Rob Rice is Thurston County’s largest local homebuilder and was voted the Best of South Sound numerous times. He has built more than 3,500 homes over the last 30 years. He and his wife, Helena, live in Olympia with their two sons Alex and Carson. Rob is a graduate of Washington State University with degrees in construction management and architecture.