03/22/2024
โจDid this happen to you?
โจIn 2021, housing prices were high due to low interest rates, buyer competition, and low housing inventory. Some buyers tried to buy a home during this time but then decided to wait for the market to crash so they could snag a home at a low price.
โจYou know what happened next.
โจThe market didnโt crash at all, but interest rates did skyrocket, making it more expensive to buy a home. Home prices took a small dip and then continued to rise because of low inventory and that appreciation factor.
โจIf those buyers had bought a house at a high price in 2021, they would be in a better financial position today because they would have both equity and a low interest rate.
โจBut right now, theyโre looking at high interest rates and have paid more money into renting, leaving them with $0 in equity.
โจThe moral of this story is to buy when the timing is right for YOU rather than trying to time the market.
โจReal estate will continue to appreciate, and the way to win the market is to just get started and build that equity with your monthly housing payment.
โจIf youโve been on the fence about buying a home, send a DM, and letโs chat about it. Now might be the perfect time for you to get started!
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Desirae Nash
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