There are challenges to buying a home in a Seller’s market. Even though it can be difficult to find a home and mortgage rates can be volatile, there are still benefits to being a Buyer in today’s market. For example, owning a home can help you build your net worth over time. If you wait to buy and keep renting, you’ll miss out on the opportunity to build equity in your home. Additionally, mortgage rates have been coming down recently, which can make homeownership more affordable. Finally, home prices are expected to increase over the next few years, so waiting to buy could mean it will become more expensive to do so.
Results of a survey of over 100 real estate experts show their predictions for home values over the next few years. According to the survey, home values are expected to go up steadily after a slight decline this year. This means that if you wait to buy a home, it could become more expensive to do so. On the other hand, if you buy now, the value of your home (and your net worth) is likely to grow over time.
So if you’ve been trying to buy a home, hang in there and keep trying. Seek advice from Real Estate Agents and Financial Advisors near you, who can help you find the best options for your budget and preferences.
