Most Realtors wouldn’t share this with you…

Is It Actually a Good Time to Buy a Home?

We’ve all heard the expression: Now is a great time to buy!

But is it really?

A recent post from real estate data journalist, Lance Lambert, stopped me in my tracks…

IF U.S. incomes spiked 69%, we'd return to pre-pandemic housing affordability levels.
IF U.S. home prices fell 41%, we'd return to pre-pandemic affordability.
IF mortgage rates fell 4.3 percentage points, we'd return to pre-pandemic affordability.

Why Housing Affordability Is So Challenging Right Now

So the short answer is—affordability is an issue.
There’s no sugar-coating it. Prices, rates, and wages are all out of sync compared to a few years ago, and buyers are feeling it.

When Buying a Home Still Makes Sense

So is it a great time to buy?

The answer is—it really depends on your timeline.

If you’re planning to buy a home for the purposes of putting a fresh coat of paint on it, cleaning the carpets, and trying to resell it in 18 months for a 20% gain, you’re going to get crushed.

But if you're like most homeowners—who buy and keep their home for an average of 12 years—then it could be a great time to buy.

Inventory is up nationally 30.6% year-over-year (according to Altos Research), and we’re no longer seeing the frenzy of the 2021 real estate gold rush.
There’s more breathing room, more options, and a bit more negotiating power for buyers who are thinking long term.

I hope you found this helpful—and as always, I’m here if you have any questions.

513-916-2363

brad@mybetterwayhome.com