Now is Always the Best Time to Buy

If you're a homebuyer in New York, you may be wondering whether to buy your home now or wait for a better time. While there's no definitive answer, there are several factors to consider before making your decision. 

Let's start with the reasons to buy now. The current market in New York is experiencing low inventory with prices trending down. With more homes predicted to be coming onto the market, there will be more competition for sellers, which will cause home prices to continue to trend down (an incentive for buyers). Moreover, home values will continue to increase (another incentive for buyers) because inflation is not receding any time soon.  

On the other hand, if you wait for interest rates to come down you will see an influx of buyers flooding the market which will cause prices to climb back up. Our recipe for capitalizing in the current market is “Marry the home and date the rate”, meaning, take advantage of this one-time occurrence of declining home prices and refinance when mortgage rates decline as predicted.  

Ultimately, the decision to buy your home now or wait depends on your individual circumstances. It's important to consider factors such as the current market, and your personal finances before deciding. Our team of experienced realtors at www.mikehomesweethomes.com can provide the necessary insight, mortgage and down-payment assistance, and the tools required for you to make a structured and informed choice.