If you’ve been waiting out the market to buy, you might want to reconsider.

 

Should you wait for the market to go down to buy a new house? It's important to remember that many factors go into deciding an offer price, like interest rates, the state of the economy, the season of the year, etc. It's more than just about predicting when a market will soften.

 

First, some industry experts say that fluctuations in prices really depend on the needs and goals of a particular area. Of course, it's not just the area. It's also individuals as far as buyers and sellers. It's all about time and money. 

 

Second, the market changes quickly. As you can see, from 2020 to 2022, we had wild ups and downs in the market with pricing, and it has been tough to keep up. The market changes quickly. Many are convinced that you buy when the timing is right for you and your family. 

"It's more than just about predicting when a market will soften."

 

Third, when speaking with my lender partners, they say it's important to keep a pulse on the market. Right now, what I'm hearing from many of them is that interest rates are expected to drop to about 5%. That's what they're going to trend toward within the next 18 months.

 

Now, that being said, if you want to buy now, there are different programs out there and different strategies that we can consider, like a 2-1 buydown. If you're not familiar with that program, get with your agent. Call me or email me; I’d love to explain how they work and discuss your situation.