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Author: Seth Pfaehler

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 your local market? Whether you’re ready to buy now or just exploring your options, reach out to a local agent so you have a plan in place that’ll set you up for success.

Do You Know What Your House Is Really Worth?

a map of the united states with a couple of potted plants

Some Highlights

  • Over the past 5 years, home prices have risen dramatically. If you own a home, that means your house may be worth a lot more than you think. ​
  • Nationally, prices are up nearly 60% since 2019. ​And, if selling has been on your mind, you can use that bigger-than-expected return to power your next move.
  • If you want to know how much your home is worth in today’s market, reach out to a local agent.​ The number may surprise you.

Is It a Good Time To Buy a Home?

Are you wondering what’s going on with home prices? Mortgage rates? Or asking yourself if it’s even a good time to buy a home? It’s a big decision—and you don’t have to do it alone. That’s where your trusted local RE/MAX® agent comes in.

5 Spring Home Maintenance Tasks You Don’t Want To Forget

Spring is a season of renewal, and as a homeowner, it’s easy to get swept up in the day-to-day of life. But maintaining your home is an important part of protecting the long-term value of your investment.

So, whether you own a house already or you’re planning to become a homeowner this year, here are five essential spring home maintenance tasks you don’t want to overlook. Save this as your helpful resource to come back to year after year.

1. Clean Your Gutters

Winter weather can leave behind debris, like leaves and twigs, clogging your gutters. If water can’t flow freely, it can lead to roof leaks or foundation damage. Hiring a professional to take on the height of this job is probably best, but if you’re an ace on a sturdy ladder, this may be your thing. Either way, keeping them clean and clear is a must.

2. Wash Your Windows and Screens

Spring is the perfect time to let the sunlight in – but dirty windows can dull the view. Remove and wash your window screens, then use a window cleaner or a vinegar-water mix to make your glass sparkle. It’s a simple job that can instantly brighten your home while also keeping dirt and build-up from settling in permanently.

3. Service Your HVAC System

Spring also means it’s time to schedule a tune-up for your heating, ventilation, and air conditioning system. A professional can clean and inspect your system, ensuring it’s ready to keep you cool during the summer months while also fixing any damage that may have occurred over the winter. When the summer weather heats up, you don’t want to be calling for an emergency issue that could have been prevented with regular maintenance.

4. Rake and Clear Debris from Your Yard

After a long winter, your yard likely needs a little TLC. Rake up leaves, sticks, and other debris to give your lawn room to flourish. Not only does this make your yard look tidy, but it also helps promote healthy grass growth for the warmer months ahead.

5. Refresh Your Exterior Paint and Caulking

This season is a great time to touch up your home’s exterior paint and check the caulking around windows and doors. This helps prevent water damage and keeps your home looking fresh and inviting.

Bottom Line

Owning a home is a rewarding journey, but it comes with responsibilities. By staying on top of these spring maintenance tasks, you can protect your investment and enjoy your home to the fullest. A little effort now goes a long way when it comes to keeping your home safe, efficient, and beautiful for years to come.

Don’t let these essential tasks sit on the back burner. Your future self will thank you.

What’s on your to-do list this season? I’ll make sure you hit all the homeowner must-do’s and connect you to some local pros I trust who can help get the jobs done.

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