Follow-up to this post
Home buying was a frenzied ordeal in 2020-2021. Demand for homes is still high compared to supply, so prices are still climbing but at a slower pace this year.
If you want to buy real estate (or even move to a new rental), you're wondering if this year will be any better. Should we move now? Or should we wait until prices go back down to something like the values we saw before the pandemic?
According to this article, the short answer is that you probably should not wait for prices to go back down because that's unlikely. In addition to the high level of demand, there's a big spike in the cost of lumber (which will put pressure on both new home prices and renovations). Interest rates are expected to go higher later this year as well.
It's hard to game the market, so your buying decision will depend on how ready you are to make your move.
from The Atlantic
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