Should I wait to buy a home? Will there be a housing crash? Will prices and interest rates go down in 2022? Inquiring minds want to know!
As we move further into the winter season, home buying will slow down in comparison to 2021 Q4 buyer activity. This is the typical trend as spring and summer tend to be the busiest—and most competitive—seasons for home buyers. However, if you’re seriously hoping to buy a home in the near future, now is the time to strike while the iron is hot.
Given a short supply of homes and growing demand in the Greater Houston real estate market, prices, mortgage rates and monthly payments are predicted to increase this year. On the bright side, interest rates continue to be historically low and this is favorable news for serious home shoppers looking for a forever home.
So, is 2022 the right time to buy a home? The answer really depends on your personal goals. If you’re looking for a deal or an investment property, you may want to hold off until the market trends in the opposite direction. If you’re looking to purchase a home that will serve as your primary residence for the long haul, now is as good a time as ever to go for it!
Be encouraged and check out our neighborhood guides to see what new listings are available!