Key Advantages of Buying a Home Today

There’s no doubt buying a home today is different than it was over the past couple of
years, and the shift in the market has led to advantages for buyers today. Right now,
there are specific reasons that make this housing market attractive for those who’ve
thought about buying but have sidelined their search due to rising mortgage rates.

Buying a home in any market is a personal decision, and the best way to make that
decision is to educate yourself on the facts, not following sensationalized headlines
in the news today. The reality is, headlines do more to terrify people thinking about
buying a home than they do to clarify what’s actually going on with real estate.
Here are three reasons you should consider buying a home today.

1. More homes are for sale right now

Believe it or not, the supply of homes has grown significantly this year. This
growth has happened for two reasons: homeowners listing their homes for sale and
homes staying on the market a bit longer as buyer demand has moderated in
response to higher mortgage rates. The good news for you is that more inventory
means more homes to choose from!

2. Home prices are not projected to crash

Experts don’t believe home prices will crash like they did in 2008. Instead,
home prices will moderate at various levels depending on the local market and
factors like supply and demand. The expectation is for relatively flat or neutral price
appreciation in 2023.

3. Mortgage rates have risen, but they will come down

While mortgage rates have risen dramatically this year, the rapid increases
we’ve seen have moderated in recent weeks. Where they’ll go from here largely
depends on what happens next with inflation. If inflation does truly begin to cool,
mortgage rates may come down as a result. This could mean more buyer
competition if many decide it’s time to jump back into the market. Your advantage is
getting in before they do.

Bottom Line

The bottom line is if you’re thinking about buying a home, you should seriously
consider the advantages today’s market offers. Let’s connect so you can make the
dream of homeownership a reality!