Since most real estate data points and housing market predictions point toward home values continuing to increase over the next few years, it might be better for you to buy now rather than later. But it really depends on your financial situation.
The good news is home prices aren’t shooting up as fast as they were in the past few years. And with housing inventory slowly on the rise and higher mortgage rates removing some buying competition, buyers with all their ducks in a row could benefit from buying a house in the current market.
But really, the best time to buy depends on you.
The New York Times recently posted an article called "A Housing Market Hangover". According to the article, "In the year ahead, the housing market may be slow to start, with home prices, rents, inventory and interest rates not moving much at all, according to economists, analysts and real estate brokers." Read more on that article here: https://nyti.ms/3vU4Jc9.
If you want expert advice on whether now is the best time for you to buy, work with an experienced real estate agent who knows your market. Pick me.
Source: The New York Times, Rhonda Kaysen, Published December 30, 2022, Updated January 3, 2023.