There are many reasons why potential homeowners are feeling that they are getting priced out of the housing market as conditions change. While rising interest rates and home prices are good news for the economy, first-time homeowners may feel they’ve lost their chance to jump into the market while it was hot. However, some real estate experts see the coming months as perfect timing for buyers looking to purchase within the year.
Among those reasons are home prices that still remain nowhere near their previous highs: first-time homebuyers could see substantial appreciation over the next few years. While interests rates aren’t at their rock-bottom numbers anymore, they’re starting to slowly rise— so take advantage of them before they keep climbing! As rental rates continue to increase over the years, the argument for buying over renting continues to grow stronger.
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