01/03/2024
Two Questions To Ask Yourself if You’re Considering Buying a Home
If you're considering buying a home, there are two crucial questions you need to ask yourself:
1️⃣ Where do you think home prices are heading?
2️⃣ Where do you think mortgage rates are heading?
🔍 One reliable source for this information is the Home Price Expectation Survey from Pulsenomics - a survey of over 100 economists, real estate experts, and investment and market strategists. According to the latest release, home prices are projected to appreciate in the coming years, which means buying now could lead to increased home value and equity in the future.
💼 As for mortgage rates, while they have been rising due to economic uncertainty and inflation, reports show that inflation is moderating, which may cause rates to fall slightly over the next few quarters. However, it's impossible for even experts to predict rates with absolute certainty, so it's important to consider all possible outcomes. ⬇️🤔
👍 If you buy now and mortgage rates don't change, you'll beat rising prices and make a good move.
👍 If they fall (as projected), you'll still make a good decision and can always refinance later.
👍 And if rates rise, you'll have made a great decision by locking in a lower rate before the home price and mortgage rate go up.
Don't wait - reach out to me for more information on local home prices and mortgage rates so you can make an informed decision about your future.
Would love to help you find your dream home!