As always, buying a home is subjective, but here are some key takeaways:
- With home prices still rising it makes sense to buy sooner rather than later if you can afford to do so
- Home price gains should slow in 2022, but not reverse. So, it’s not worth waiting for lower home prices
- Mortgage rates are rising, but don’t let that put you off. Even if they reach 4%, that’s still less than half the historic average
Bottom line – If you find a home you like and you’re financially ready, then 2022 is an excellent time to buy!