Published October 25, 2021

Should I Buy Or Wait For Home Prices To Come Down?

Written by Shanna Day Team

Should I Buy Or Wait For Home Prices To Come Down? header image.

Should I buy or wait for pricing to come down??

I don't foresee housing prices crashing, or even coming down more than, maybe, slightly. The only thing I am seeing now is interest rates rising. I'm seeing rates hover at around 3% this week, slightly up from last week. It's still a good time to buy because affordability is great. That's the measurement. When interest rates are low and prices are high - how is affordability? Well it's better than lower housing prices but with high interest rates...

So affordability is what we want to consider, not necessarily the price of the home. That's why those who wait for a market crash are (a) probably not going to see it... and (b) might purchase something that never crashed, but now at a higher interest rate...

Then again who knows what the Fed will do with interest rates. No one has a crystal ball. But that could be a very possible future.

Is buying a smart move in today's market? Yes. Yes it is... Experts predict you'll still gain equity over the next few years. So if you need to make a change in your real estate position don't hesitate to make moves. Especially during this holiday season, you'll typically see less offers received making it easier to win the property you love.