Should I buy now or should I wait? is probably the top question on your mind if you've been considering purchasing a home. Despite the fact that nobody can decide for you, here is some information that might be useful.
The Future of Home Price Appreciation
To forecast future home price increases, Pulsenomics conducts quarterly polls of a national panel of more than 100 economists, real estate specialists, and investment and market strategists. The Home Price Expectation Survey is the result. According to the most recent publication, housing prices will rise over the following five years.
Over the next years, the rate of appreciation will slow as the market moves away from the unsustainable pace it experienced during the pandemic. According to experts, home price growth will continue after this year, but at rates that are more typical for the market. The National Association of Realtors' (NAR) Chief Economist, Lawrence Yun, 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.”
You should feel secure in your decision to become a homeowner because you are purchasing a good that is expected to increase in value over the next years thanks to that continual appreciation.
If you're ready to buy a home, know that doing so now can position you for long-term success because home prices are expected to continue to rise, increasing the value of your asset and your own net worth. Join forces with a neighborhood real estate expert to start the home-buying process right away.
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