Buy now or wait – 2023 Dilemma

July 20, 2023

Grant Dean

The current real estate market is an interesting one. The interest rates and effects of inflation have made investors wait on the sidelines until the numbers make sense and they can cash flow. Owner occupant buyers and especially first-time home buyers using FHA can win with less competition and buy a home with the plan to refinance in the future as long as they can come to terms with the monthly payment for the time being.  Once rates get back down to 5% it is my opinion, we will see competition get fierce again, the limited inventory we have currently sell quickly and prices rebound. If you want to buy but are not sure if it is the right time, call me and let us see what makes the most sense for you, buy now or wait.