HEADLAND, Ala. (WDHN) —Recently, the housing market has seen an uptick in prices. Buying a new house is more expensive now than it was just a few months ago.
A local real estate agent says this might be a problem for first-time buyers.
“The trends we are seeing right now here in the Wiregrass all the way to Enterprise is that prices have gone up,” Coldwell Banker Real Estate Agent, Dave Powers said. “People that are listing prices are getting nearly full price or over full price on homes which could be a barrier for first time home buyers.”
Powers says that the increase in material costs to build a new house has affected the overall cost of homes.
“The material costs like on new construction have gone up and so subsequently even existing homes have come up and those costs are driving all the prices of the houses up,” Powers said. “Because inventory is a critical strength low to where there’s less houses and they can get a higher price for that limited amount of inventory.”
Powers says there are some steps that buyers should take before trying to purchase a home that could make the process easier.
“Find a good realtor in your area that knows the area to where they can seek out those good deals,” Powers said. “Go get prequalified, know what you can afford from your lender, and making sure you are fully prepared to make an offer on the property of your dreams.”
For anyone looking to purchase a home, Powers encourages you to visit the National Association of Realtor website for more information.