Now Is the Wrong Time To Buy. Here’s Why
You may want to think twice if you’re considering buying a home.
Did you know that it may not be the best time to buy a house? For more information, here are three reasons why it’s tough:
1. Rates are slightly higher than they were a couple of years ago. If you had a house or were house hunting a few years back, they were around 2.8% to 3.5% interest rates. That's super low. Today’s higher rates have created an unhealthy market.
2. Sellers won’t pay closing costs. There's too much demand out there. Strategic buyers have prepared for this moment to come and sellers won’t pay closing costs, so if you're a first-time homebuyer that is a little bit short on cash, you might have a very tough time.
"It is not a great time to buy a house right now."
3. The environment is unstable. Buyers are coming out of the woodwork, so there will be a lot of competition now that rates have stabilized. Now the spring market has come early.
To learn more about the market, don’t hesitate to reach out. I can help you navigate these waters, so call or email me anytime.