Is it a bad market to buy a home in?

Question

Is it a bad time to buy a house right now? We had a interest rate of 3.2 when we bought our house, we can sell & make profit right now but we are wanting to move to a better part of town before the new school year starts up, Im just worried were making a bad financial decision buying in this market any advice?

Answer

If you want to move, regardless, it's more of a buyers market now. The interest rates are higher, but home prices are coming down/stabilizing. At least in my area, houses aren't going for over asking price like they were this time last year.

Answer

We were looking for a bit but our realtor said we would not get an interest rate as low as ours currently in this market (3.25)  so we’re gonna work on our finances for a bit longer. If you don’t have to sell I wouldn’t rush

Answer

Interest rates are always going to fluctuate so don’t let that be your determining factor.  It’s property taxes that many don’t pay attention to and how they impact your payment.  In my area (ring suburbs of Chicago) the market has stabilized.  Home prices aren’t over inflated and houses are on the market more like a month or 2 instead of an hour or a day.

Answer

It’s not an ideal market but there’s no guarantee that in six months or even a year it’ll be better, interest rates have come down a little and it seems like prices are starting to come down. We’re also in the market for a house, my father in law said that 40+ years ago when he bought his house internet rates were really high too. If you need a house you need a house, as long as you can afford it I don’t see a point in waiting

Answer

This is a much better market to buy in than 6 months ago!

Is it a bad market to buy a home in?

Let’s Glow

Glow is here for you on your path to pregnancy

25+ million

4.8 stars

20+

Getting Pregnant

Pregnancy

1st Year (Baby & You)

Baby Products