Mortgage
Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.
Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.
In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):
Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.
And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that.
Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.
If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:
In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.
Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.
If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.
Stay up to date on the latest real estate trends.
Owning a home means you get to say goodbye to rising rents and hello to stability
3 beds | 1 bath | 1,183 sq ft
In April 2024 there were more homes for sale than there were over the last few years (2021-2023)
They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget.
Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success.
Let's chat to see exactly what’s going on with prices in our neighborhood.
If you want to get your house ready for a summer listing, let’s connect.
3 beds | 2.5 baths | 1,770 sq ft
If you want to find out what builders are doing in our area, let’s connect and check it out together.
You’ve got questions and we can’t wait to answer them.