Important reasons to start looking again

The market has finally stabilized with more inventory becoming available, so this is the best time to buy a house in the past 2 years.

Are you aware that even with the increased interest rates in today’s market, you are likely to pay a lower price which also means your down payment is less than just a few months ago yielding a very similar, maybe even lower, total cost for you?

The US has underbuilt millions of units, and remember that construction slows in a recession. This could lead to even worse shortages, which cause price gains, when the market recovers — and it always recovers. It will just be a matter of time.

Let’s discuss your long-term goals. Historically, owning property has served as a great investment. Very few people own a home for 2-3 years. Most live in their home for 7-13 years. Almost all homes bought in 2007, prior to the Great Recession, recovered fully and escalated in value. Those owners built equity and were not paying (rising) rent to a landlord.