Is 2023 the right time to buy a home?

Brought to you by – Dan Griffin, Broker/Realtor, Compass Inc.

With the uncertainty that’s surrounded the real estate market over the last few years, you may be hesitant to take the plunge and purchase a home. After interest rates reached a historic low two years ago, it can be discouraging to see them climb steadily. In fact, rising interest rates may have caused you to press pause on your plans to buy. However, according to Max Kallos, President of Ardent Loans, it’s helpful to look at interest rates over the last 50 years to get a big picture view of what’s happening. Historically, interest rates have averaged between 6-11%, so current rates are still sitting at the low end of that range. While you might be concerned about interest rates, if you’re renting it’s likely

NAME you’ve been affected by the rise in rent prices over the last two years. You may be wondering if you’d be better off buying a home so you can begin building equity in your own property rather than paying rent to a landlord. Especially if you’re planning on staying in the same area for a few years, Max Kallos believes it’s a good idea to consider home ownership. Now that the housing market has cooled off a little, it could be the right time to see if you can afford to buy.

Home values continue to increase across Atlanta which means real estate remains a secure investment. However, choosing to invest in a home is an important decision and there are many factors to consider. If you’re thinking about buying a home, get in touch with a trusted mortgage broker to talk through your options.