It’s easy to get caught up in waiting for the perfect moment to make your move – especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop or home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.
There is no perfect market.
No matter when you buy, there are always some benefits and some trade-offs – and that’s not bad. That’s just the reality of it. If you’re unsure you buy into that, think back to the last 5 years in housing.
Just a few years ago, mortgage rates hit a historic low. Many buyers rushed to buy a home and lock in those lower rates to take advantage of that. The side effect? With such a significant increase in buyers purchasing, the homes on the market snapped up fast. Since that resulted in so few homes left for sale, bidding wars became the norm, and home prices went down the roof. Those buyers got a great rate but had other things to contend with.
Now, with higher rates and higher prices, it’s more expensive to buy. You can’t argue that. Simultaneously, the number of homes for sale has reached its highest point in several years. That means you have more options and are less likely to find yourself in a pull-out-all-the-stops bidding war. Again, there are benefits and trade-offs in any market.
So, if you have a reason to move and can afford to do so, you’ve got to take advantage of the trends that work in your favor and lean on a pro to help you navigate the rest. As Bankrate says:
“The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”
While achieving your goals may feel like an uphill battle in today’s complex market, it is doable. But you’ll need the help of a trusted real estate agent and a lender.
Your agent will help you explore creative solutions – looking into different housing types (like smaller condos), considering homes that need some elbow grease, or casting a wider net for your search area. Your lender will walk you through different loan options and down payment assistance programs so you know how to make the numbers work for you. As Yahoo Finance says:
“Buying a house at a time when both mortgage rates and home prices are favorable is a challenge. You probably shouldn’t try to time the housing market . . . Buy when it makes sense for you personally.”
Bottom Line
There’s no perfect time to move – every market has pros and cons. The key is knowing how to maximize the factors that are working in your favor. If you need to move and can afford to do it, let’s connect so you’ll have the guidance and tools to make it possible.
