If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options.
Scroll through your feed and you’ll see plenty of finger-pointing about why homes cost so much. And according to a national survey, a lot of people believe big investors are to blame.
Even though data shows that’s not true, nearly half of Americans surveyed (48%) think investors are the top reason housing feels so expensive (see graph below):
But that theory doesn’t actually hold up once you look at the data.
Have you heard how much this year’s shift in mortgage rates could save you?
Monthly mortgage payments are now $280 lower than they were just a few months ago.
For some buyers, that’s the kind of change that can take buying a home from “not yet” to “let’s go.”
It’s the best affordability we’ve seen in 2.5 years.
These days, you’re going to want to get your price right when you get ready to sell your house. Honestly, it’s more important than ever. Why? While you may want to list high just to see what happens, that’s a plan that can easily backfire, and it’s going to cost you in today’s market.
And the risk isn’t just missing out on offers, it’s missing out on the move you needed to make in the first place.
So, if you’re ready and able to buy right now, shooting for this month means you should see:
Just remember, every market is different. For most of the top 50 largest metros, that sweet spot falls in October. But the peak time to buy may be slightly earlier or later, depending on where you live. As Realtor.com explains: