Are you trying to "Time" the Real Estate Market?

As the real estate market continues to shift, now may be the right time to buy a home, even with interest rates slightly higher than we’ve seen in recent years. While it’s true that rates are currently a concern for many buyers, waiting for them to drop could cost you more in the long run. Home prices have shown resilience and are expected to rise again as demand increases, especially in sought-after neighborhoods. If you purchase now, you’ll lock in a home at today’s price, which may save you money before competition drives prices back up.

While higher interest rates may feel like a deterrent, the strategy of refinancing when rates drop is an important factor to consider. Mortgage rates fluctuate over time, and history shows that they tend to lower when inflation stabilizes or the economy cools. If you buy a home now and lock in a purchase, you have the opportunity to refinance once rates drop, which would reduce your monthly payments. This strategy allows you to secure your ideal home without waiting for the "perfect" market conditions, and you’ll be in a prime position to take advantage of better financing options down the road.

Moreover, the longer you wait to buy, the more you might miss out on potential equity growth in your home. As home prices continue to rise, waiting could result in a higher initial purchase price and a more competitive market. By purchasing now, you can start building equity and enjoying the benefits of homeownership while you wait for rates to fall. With patience and the ability to refinance later, you can optimize your long-term investment and secure a home that meets your needs.