Is it the right time to buy a home?
That is one of the most frequently asked question posed to a realtor today. There are many forces that drive the
real estate market: demand, inventory & interest rates are among the top of the list, and there is no doubt
that today’s buyers must do their homework!
Inventory is low and demand is strong which is fueling the higher prices. Interest rates climbing, are creating less opportunity for buyers who are looking for a mortgage, while sellers are reluctant to sell, giving up a 3% interest rate if they have mortgage.
All this says is: No one has a crystal ball and no one can really predict what the market will be like six months from now. There are too many moving parts to the market and most of the time they don’t move in unison.
Gather your facts and if you find a home at the right price with a comfortable payment, why not jump in?