Virginia Gardner

Back To Blog

Should I Buy a Home Right Now?

Should I Buy a Home Right Now? | Simplifying The Market

If youve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, heres some information that could help you make your decision.

The Future of Home Price Appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Should I Buy a Home Right Now? | Simplifying The Market

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market.As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

People should not anticipate another double-digit price appreciation. Those days are over. . . . We may return to more normal price appreciation of 4%, 5% a year.

For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because youre buying an asset thats projected to grow in value in the years ahead.

What Does That Mean for You?

To give you an idea of how this could impact your net worth, heres how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Should I Buy a Home Right Now? | Simplifying The Market

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. Thats whats at stake if you delay your plans.

Bottom Line

If youre ready to become a homeowner, know that buying today can set you up for long-term success as your assets value (and your own net worth) is projected to grow with the ongoing home price appreciation. Lets connect to begin your homebuying process today.

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Comments

  1. No comments. Be the first to comment.