What would happen if you waited one year to buy or sell? Find out in today’s message.
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Would it be better to buy or sell today or to wait until next year to make this move? People ask me this all the time, and I’m going to get to the bottom of this question today.
The first thing you need to realize is that prices are on the rise. In fact, the national median home price has risen 5.4% since this time last year. Interest rates have remained around historic lows over this 12-month period, allowing buyers to lock in favorable monthly payments, but this won’t last forever.
And, according to CoreLogic, home prices are expected to appreciate 4.5% over the next year.
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Between rising home prices and the high volume of buyer demand, sellers will maintain a lot of leverage in the year to come.
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This will have a significant impact on buyers and sellers alike.
For buyers, this means a property they might purchase today would be thousands of dollars more if they waited one more year. Their monthly mortgage payments would also be more expensive.
Sellers, meanwhile, will actually benefit from this appreciation. Between rising home prices and the high volume of buyer demand, sellers will maintain a lot of leverage in the year to come.
The bottom line is that whatever your real estate goals may be, now is a great time to act.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
