Fort Wayne, Indiana is a great place to consider if you're in the market for a new home. With a low cost of living and lower interest rates, it's an affordable place to call home.
One of the biggest challenges facing Fort Wayne's real estate market is the low inventory of homes available for sale. This is a trend seen across the country, as many homeowners are choosing to stay put due to the limited inventory available. However, this low inventory can also create a sense of urgency for buyers, making it a good time to purchase a home in Fort Wayne.
Interest rates have also been a factor since the middle of 2022 with rates doubling from the lows of early 2022. In recent weeks we have begun to see a lowering of the rates and are currenltey at around 6%. Lower interest rates can mean lower monthly mortgage payments, which can make it more affordable to purchase a home.
Fort Wayne is also a growing city, with plenty of new developments and amenities popping up all over the place. From new restaurants and shopping centers to new housing developments and parks, there's always something new to explore in Fort Wayne.
Overall, Fort Wayne is an excellent option for anyone looking to purchase a new home. With low inventory, low cost of living, lower interest rates and a growing city, it's an affordable and exciting place to call home.