Inflation, interest rates, and affordability in today's real estate market.
Are housing prices coming down? Should you wait to buy a home? Today I’ll talk about inflation, interest rates, and affordability in our current market.
Right now, buyers frequently ask if it’s a good time to buy. We have already experienced consistent year-over-year appreciation in home prices. Seven real estate companies that track national data and trends forecast an average 6% increase for 2022. Inflation is at a 30-year high, but the good news is that buying and owning real estate is your best hedge against it. When looking at the history of home prices since the 1970s, they’ve risen faster than inflation.
If you are concerned about inflation and rising interest rates, now is a good time to buy while homes are still affordable. We are always here to help you, so please contact me by phone or email to consult on any of your real estate needs.
