How much is it costing you to wait?
Whether you are a first-time buyer or a move-up buyer, you should look at housing experts' projections in two significant areas: home prices and mortgage rates.
PRICES
Over 100 economists, real estate experts, and investment & market strategists were recently surveyed. They were asked to project where home prices were headed. The average value appreciation projected over the next twelve months was approximately 4%.
MORTGAGE INTEREST RATES
In their last Economic & Housing Market Outlook, Freddie Mac predicted that 30-year fixed mortgage rates would be 4.8% by this time next year. As of last week, the Freddie Mac rate was 4.14%.
Ready to find your dream home in Denver?
Let us help you. Call or Text Kenna Real Estate at 303-955-4220 to get personalized assistance from our expert real estate agents.
What does this mean to you?
If you are a first-time buyer currently looking at a home priced at $250,000, this is what it could cost you monthly if you wait to buy next year:
Ready to find your dream home in Denver?
Let us help you. Call or Text Kenna Real Estate at 303-955-4220 to get personalized assistance from our expert real estate agents.
If you are a move-up buyer currently looking at a home priced at $500,000, this is what it could cost you monthly if you wait to buy next year:
With both home prices and interest rates projected to increase, buying now instead of later might make sense.
Post a Comment