Is now a good time to buy a home?

Greetings, 
 

As a real estate professionals, we often encounter questions about the optimal time to purchase a new home. These days it's natural to question the timing of such a significant decision. The super low interest rates present during the pandemic have left many prospective homebuyers wondering if they missed out on an opportunity. 
 

Relatively speaking, today's rates are not that high. Back when we purchased our first home, rates were much higher – roughly 10% and they reached as high as 18% in the early 1980’s.  The risk of trying to wait out the market until interest rates come down is that everyone who has been thinking about buying a house will be out looking for a home and prices will likely go through the roof again due to increased competition.
 

In addition, if rates do come down you have options to refinance. Either way: Higher interest rates now or high housing prices once rates come down. 
Leaving interest rates and competition aside, the long and short answer to the question: When is the right time to buy a house is straight forward - When you are ready. As guides and support, Harry and I are here to walk with you through this journey when the time is right for you.

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