The truth about today’s market and how it affects buyers and their timing.

Should you wait to buy a home, or is now the best time? This is a question I’ve gotten a lot lately, and it's almost impossible for me to answer without knowing more about your situation. The best time to buy is when it's right for you and your family, so there are many variables to consider. However, there are a few points I can make that may help.

One important thing to note is that if you’re waiting for interest rates to drop, you’re probably going to be waiting a long time. These rates are not expected to drop significantly for quite a while. In addition, if you're waiting for home prices to drop before you buy a home, you're going to be waiting for an extremely long time. Home prices have been up 6% in the last three months, and there’s no evidence of an upcoming fall in prices. 

“There’s less competition and more deals.”

If interest rates are too high for your situation or it’s not the right time for you to buy, don’t do it! However, there are a lot of reasons to buy now, despite rising interest rates. First, more and more sellers are willing to pay closing costs. This is huge and will offset some of the costs of rising rates. Secondly, many new-construction builders are offering significant incentives to get their homes sold, as they are feeling the effects of the housing market slowing. Thirdly, the market has normalized. Fewer homes are selling with multiple offers and way above the list price. Now, there’s less competition and more deals. 


If you want to take advantage of today’s market, I would love to help you get started with your home search and assist you with your specific situation. You can call me at (513) 657-2500 or visit my website here. I look forward to hearing from you!

 

                                               Questions about selling your house?

                           Contact The Lowry Team today! Call or text 513-586-6900

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