If you’re planning to make a move this year, understanding home prices and mortgage rates is essential. Here’s what experts are saying to help you make an informed decision:
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Home Prices Steady Growth Ahead
According to the Fannie Mae Home Price Expectations Survey, home prices are expected to rise steadily through at least 2028. While the rate of growth may vary, the trend points toward gradual price increases.
Buying now could be a smart financial move, as property values are likely to appreciate over time. This means building equity and benefiting from long-term value. Waiting too long could result in paying higher prices later, reducing your potential gains.
Mortgage Rates A Mixed Outlook
Mortgage rates are influenced by factors like inflation, economic conditions, and global events. Experts are cautiously optimistic that rates might decline by the end of the year, though they warn that economic fluctuations could impact this prediction.
As highlighted by CNET, housing market forecasts are constantly shifting based on new economic data. Staying informed will help you lock in a favorable rate when the time is right.
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Why Act Now?
Purchasing a home now means taking advantage of current opportunities before prices and rates potentially shift. Delaying could cost more in the long run, both in terms of higher home prices and potentially less favorable loan terms.
Ready to make your move? Stay ahead by keeping up with the latest market trends. With expert guidance and updated information, you can confidently take the next step toward owning your dream home.
