Here’s why it doesn’t make sense to wait to buy in our current market.

Should you wait to buy a home? Prices and interest rates are rising, so many buyers are wondering if they should sit things out until market conditions change. In our opinion, it doesn’t make sense to wait. In fact, you should probably buy as soon as possible, and today we want to talk about why. 

At the beginning of the year, local experts predicted houses in our area would appreciate by 8.6% this year. We’re only a few months into 2022, but it already looks like that estimate was a little low. Prices are appreciating even faster than we thought they would. If you wait 12 months, you could be paying much more for your new home. 

On top of rising prices, interest rates are increasing. They’ve already gone up this year, and it looks like they’ll increase even further to combat inflation. As rates rise, your buying power decreases. Currently, rates are still historically low, so it isn’t too late to get a great deal. 

“Prices and interest rates continue to rise. ”

If you want to buy a house in our tough market, you may need to get creative. This article was written by a single mom who purchased a home with another single mom to raise their kids in. They share the costs, chores, childcare duties, and more. We’ve seen that some millennials are having their parents cosign their loans; then, they rent their new home out to their friends at a decent price. 

There are plenty of ways to get creative in this market. If you have any questions, please call or email us. We’d love to speak with you!