Should You Buy a Home Now or Wait?

Deciding whether to buy a home now or wait is a big question for many. While the right timing depends on personal factors, here’s something to consider: focus on time in the market, not timing the market.

The Downside of Timing the Market - Trying to time the market isn’t a good strategy because things can change. For instance, mortgage rates were expected to drop this year but have stayed high, keeping monthly payments elevated. Those who waited missed out on buying opportunities and potential affordability improvements.

The Benefit of Rising Home Prices - Delaying your purchase means missing out on equity gains. Experts project home prices will continue to rise through at least 2028. For example, buying a $400,000 home now could result in over $83,000 in equity gains in five years. This shows why time in the market matters.

Advice for Potential Buyers - If you’re ready and able to buy now, focus on current home prices and potential equity growth. Prices are expected to climb moderately, benefiting homeowners in the long run. While timing the market is tricky, the equity you’d gain by buying now is significant.

If you’re debating whether to buy now or wait, remember it’s time in the market, not timing the market, that counts. Connect with an agent to start your home-buying journey and set yourself up for those big equity gains.