The question is common: When will home prices decrease? Should I wait to buy a home?
Obviously, I’m not a mind reader and I can’t predict the future. However, most experts agree that home prices are expected to continue to appreciate through 2025. The combination of increasing population and insufficient housing supply is creating a long-term expectation of increasing home prices.
This year's frantic appreciation is unusual, and that frenetic pace is expected to moderate. However, home prices are expected to continue to appreciate through 2025. Because interest rates are predicted to rise a bit during the year, housing is more affordable now than it may be in the coming years. Lower interest rates mean stronger buying power and strong buyers are in a better position to bring potentially higher offers to the table.
If you are thinking of buying a home and have been waiting for the right moment—it may be now! I’d love to help you find the right home in the right community. I’m very familiar with the East Bay and I would be honored to assist you in your home search. Check out great communities here.
Thinking of selling? Remember that the number one priority in timing is to make sure that it’s right for YOU. If you are considering a home sale in 2022, it’s a perfect time to strategize!