Home BuyingReal Estate December 25, 2022

Key Advantages of Buying a Home Today (2)

2022-12-25

Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today. The reality is, headlines do more to terrify people thinking about buying a home than they do to clarify what’s actually going on with real estate.

Here is the second reason potential homebuyers should consider buying a home today.

Home Prices Are Not Projected To Crash
Experts don’t believe home prices will crash as they did in 2008. Instead, home prices will moderate at various levels depending on the local market and the factors, like supply and demand, at play in that area. That’s why some experts are calling for slight appreciation and others are calling for slight depreciation (see graph below):

 

If you consider the big picture and average the expert forecasts for 2023 together, the expectation is for relatively flat or neutral price appreciation next year. So, if you’re worried about buying a home because you’re afraid home prices will crash as they did in 2008, rest assured that’s not what expert projections tell us.