Two Reasons Why Waiting a Year To Buy a Home Could Cost You
Posted by Tamara Williams on
If you’re a renter with a desire to become a homeowner or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.
To determine if you should buy now or wait, you need to ask yourself two simple questions:
- What will home prices be like in 2022?
- Where will mortgage rates be by the end of 2022?
Let’s shed some light on the answers to both of these questions.
What will home prices be like in 2022?
Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts:
- Freddie Mac: 5.3%
- Fannie Mae: 5.1%
- Mortgage Bankers Association: 8.4%
Using the average of the…
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Here’s the month-by-month breakdown of what you can expect if you’re buying or selling by the end of the year.
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