07/07/2023
5 Solid Reasons To Buy a House Now, Despite High Rates—and 2 Reasons To Wait...
Warm weather usually brings out the barbecues, beach trips, and homebuyers in droves. But for this particular home shopping season, many buyers might feel like they’re on the fence.
Homebuyer ambivalence is high for good reason: On the one hand, buyers might be encouraged to hear that last year’s red-hot seller’s market, with its bidding wars and over-asking offers, has finally ebbed. On the other hand, mortgage rates are a full percentage point higher than last year, eating up potential savings. Combined with a bumpy economic forecast, it’s understandable that some homebuyers are hesitant to forge ahead.
“Currently, there are fewer buyers in the market because of rising interest rates and uncertainty in the market,” confirms Ralph DiBugnara, mortgage banker, real estate investor, and president of Home Qualified in New York City. Nonetheless, he points out that conditions have been improving for buyers, so right now is actually “a better time to buy than the [first half] of 2023.”
What are those reasons? Click to read further...
https://www.realtor.com/advice/buy/should-i-buy-a-house-now-reasons-to-buy-vs-wait/
-California Association of Realtors
Arezo Botello
🏡 REALTOR® | San Diego Real Estate
DRE # 02196474
NMLS # 2368132
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Homebuyers might be on the fence about whether buying a house right now makes sense. Here are the pros and cons to help you decide.