Is It Really a Good Time to Buy? Here’s What You Need to Know
You’ve probably heard the saying: “The best time to buy a home was yesterday, but the next best time is today.”
There’s a reason for that—home values continue to rise, and waiting for the perfect moment could cost you in the long run. I know the market can feel unpredictable, and with mortgage rates still holding strong, you might be wondering if you should wait for prices to drop. But here’s the reality: experts don’t expect prices to fall anytime soon.
Home Prices Are Still Rising—Just More Steadily
While we’re not seeing the dramatic price jumps of previous years, home values are still expected to increase at a steady, more normal pace—about 3-4% per year nationally. According to Fannie Mae’s latest Home Price Expectations Survey, this trend is expected to continue through at least 2029.
What does that mean for you? A $400,000 home today could be worth over $83,000 more in just five years. That’s equity you’re building, rather than leaving on the sidelines.
Why Aren’t Prices Dropping? It’s All About Supply and Demand
Yes, inventory has improved slightly compared to last year, but there still aren’t enough homes to meet demand. This keeps upward pressure on prices, and experts predict that trend will continue. Redfin put it simply:
“Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand.”
So while some areas may see a bit of leveling off, a major price drop? Not likely.
Should You Wait or Buy Now?
I get it—timing the market sounds appealing. But here’s what to consider:
✔️ Home prices are expected to keep rising – Waiting means paying more later.
✔️ Mortgage rates fluctuate – Even if rates dip, higher home prices could still make waiting more expensive.
✔️ Buying now builds equity sooner – The sooner you buy, the sooner your investment starts working for you.
Let’s Make the Market Work for You
I know today’s market comes with challenges, but there are ways to navigate them:
🏡 Exploring different neighborhoods
🏡 Considering townhomes or condos as a first step
🏡 Looking into alternative financing or down payment assistance programs
At the end of the day, time in the market beats timing the market. If you’re thinking about making a move—or just want to understand your options—let’s chat. I’d love to help you put a plan in place so you can make the best decision for you.
Let’s connect!
