When is the Right Time To Buy?

Buy When You’re Ready

The right time to buy a home is when you are ready.  As the population of the United States has increased over the past several years, the supply of housing is less than the demand.

What does that mean?  As long as there is an imbalance between supply and demand, home values will either remain steady or continue to increase.  Speculation has been in recent years that there might be a housing market crash, like there was in 2008.  That however, was a different set of circumstances than what we have in 2025.

Everyone needs a place to live.  Being a homeowner (or any property for that matter, whether it’s residential, commercial or land) is the best way to accumulate wealth.  I’ve heard some industry experts mention that home values may have increased by approximately 60% in the past few years, just due to inflation and other market influences.  This is free equity in your home, just by owning over time.

Don’t wait for rates to drop

Interest rates of course, impact a buyer’s affordability.  At the time of writing this, the 30 year fixed rate is hovering around 6.85%.  While they have not dropped much in recent months, they also have not continued to increase, as we saw during 2022-2023.   Many lenders use the slogan, “Marry the Home, Date the Rate,” and that means get into a home you want now, if ownership is for you.  In the future, if interest rates drop, you can always refinance when a lower rate becomes available.

Sellers Still have the Advantage

The cold hard truth is that there’s still an imbalance between supply and demand of homes right now, meaning there are more buyers looking for homes than what is available for sale.  Those properties that do come on the market (if priced accordingly and in good condition) are likely to receive multiple offers.  If you’re thinking about selling, now’s the time to take a deeper look at what the market will be willing to pay for your property.  That’s where an agent comes in, offering statistical comparisons that will price your property to sell.