Menu

Leave a Message

Thank you for your message. We will be in touch with you shortly.

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up

03/13/25

Why Buying a Home Now Makes Financial Sense

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up


At one point or another, you’ve probably heard someone say, “Yesterday was the best time to buy a home, but the next best time is today.”

That’s because nationally, home values continue to rise. And with mortgage rates still stubbornly high and home prices going up, you may be holding out for prices to fall or trying to time the market for that perfect rate. But here’s the truth: waiting for the right moment could cost you in the long run.

 

Home Prices Are Still Rising – Just at a More Normal Pace

 

The idea that prices will drop dramatically is wishful thinking in most markets. According to the Home Price Expectations Survey from Fannie Mae, industry analysts are saying prices are projected to keep rising through at least 2029.

While we’re no longer seeing the steep spikes of previous years, experts project a steady and sustainable increase of around 3-4% per year, nationally. And the good news is, this is a much more normal pace – a welcome sign for hopeful buyers (see graph below):

 

 

What This Means for You

 

While it’s tempting to wait it out for prices or mortgage rates to decline before you buy, here’s what you’ll need to consider if you do.

  • Tomorrow’s home prices will be higher than today’s. The longer you wait, the more that purchase price will go up.
  • Waiting for the perfect mortgage rate or a price drop may backfire. Even if rates dip slightly, rising home prices could still make waiting more expensive overall.
  • Buying now means building equity sooner. Home values are rising, which means your investment starts growing as soon as you buy.

Let’s put real numbers into this equation. If you purchase a $400,000 home today, based on these price forecasts, it’s expected to go up in value by more than $83,000 over the next five years. That’s some serious money back in your pocket instead of being left on the sidelines (see graph below):

 

Why Aren’t Prices Dropping? It’s All About Supply and Demand

 

Even though there are more homes for sale right now than there were at this time last year, or even last month, there still aren’t enough of them on the market for all the buyers who want to purchase them. And that puts continued upward pressure on prices. As Redfin puts it:

 

 

"Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand."

While every market is different, most areas will continue to see moderate price growth. Some may level off a bit, but a major national drop? Not likely.

 

Bottom Line

 

Time in the Market Beats Timing the Market

 

If you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.

 

Yes, today’s housing market has its challenges, but there are ways to make it work —exploring different neighborhoods, considering smaller condos or townhomes, asking your lender about alternative financing, or tapping into down payment assistance programs. The key is making a move when it makes sense for you rather than waiting for a perfect scenario that may never arrive.

 

Want to take a look at what’s happening with prices in our local market? Whether you're ready to buy now or just exploring your options, having a plan in place can set you up for success.

 

Other Recent Blogs

Check out the latest articles on real estate trends.

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up

Should I Buy a Home Right Now? Experts Say Prices Are Only Going Up

03/13/25

Why Buying a Home Now Makes Financial Sense

Longboat Key Condos for Sale

Mixed-Use Developments The Future of Modern Living and Real Estate

Mixed-Use Developments The Future of Modern Living and Real Estate

03/12/25

How Mixed-Use Communities Are Redefining the Way We Live Work and Socialize

Strategies for House Flipping in the Atlanta Market

Strategies for House Flipping in the Atlanta Market

03/11/25

How to Maximize Profits in One of the Hottest Real Estate Markets

A large brick house with a gray roof and a two-car garage.

Mortgage Pre-Approval vs. Pre-Qualification What’s the Difference

Mortgage Pre-Approval vs. Pre-Qualification What’s the Difference

03/10/25

Understanding These Key Mortgage Steps Can Help You Secure Your Dream Home Faster

More Buyers Are Making Moves — Is It Time To Sell?

More Buyers Are Making Moves — Is It Time To Sell?

03/7/25

Homebuyer activity is increasing. Here’s what that means for sellers like you.

A cozy living room with two gray-colored couches facing a fireplace.

Why a Pre-Listing Inspection May Be Worth It in Today’s Market

Why a Pre-Listing Inspection May Be Worth It in Today’s Market

03/6/25

Understanding the Benefits of a Pre-Listing Inspection in Today’s Market

How to Get Your Home Ready for the Spring Real Estate Market

How to Get Your Home Ready for the Spring Real Estate Market

03/5/25

Maximize Your Home’s Value and Sell Faster This Spring

Kitchen Renovations That Buyers Love

Kitchen Renovations That Buyers Love

03/4/25

Upgrades That Increase Home Value and Attract Buyers

How to Create Your Dream Outdoor Retreat With These Expert Tips

How to Create Your Dream Outdoor Retreat With These Expert Tips

03/3/25

Transform Your Backyard Into a Relaxing and Stylish Escape