Home A Loan Mortgage, LLC
(404) 889-8411

Thinking About Waiting to Buy? You May Want To Think Twice!

Should you wait for home prices before buying? Here is what most experts are saying about the current housing market.
Apr 19, 2023

You might be curious about what your next move should be as a prospective homebuyer. One aspect that likely concerns you is home prices, which have decreased somewhat since their peak last June.

You may have also heard rumors of an impending price crash in the news or on social media, causing you to postpone buying a home until prices drop significantly. However, this may not be the wisest approach.

According to a recent Zonda survey, 53% of millennials still rent because they're waiting for home prices to drop. However, the latest data suggests that home prices have already hit bottom and are increasing.

Selma Hepp, Chief Economist at CoreLogic, states that U.S. home prices rose by 0.8% in February, implying that prices in most markets have bottomed out.

So, should you continue waiting for home prices to decrease before purchasing a home?

According to most experts, it's probably not the best idea. Data indicates that prices are increasing in many parts of the country rather than decreasing.

Furthermore, the latest Home Price Expectation Survey suggests that experts forecast steady growth in home prices, returning to more typical appreciation levels after 2023. So if you're waiting for home prices to drop before buying, you should reconsider.

The best way to understand how home values are behaving in your region is to work with a local real estate professional who can offer you the most up-to-date insights and professional advice. Contact us today for personalized service!

PRIVACY POLICY

Customer service is very important to us. As we continue to improve and expand our services, we recognize our customers' need and desire to preserve their privacy and confidentiality. Safeguarding our customers' privacy is also very important to us. We have adopted standards that help maintain and preserve the confidentiality of customers' nonpublic personal information. The following Statement affirms our continued efforts to safeguard customer information.

Information We Collect

We gather nonpublic personal information about our customers as may be necessary to conduct business with our customers. We collect nonpublic personal information about you from the following sources:

  1. Information we receive from you on applications or other forms, over the telephone or in face-to-face meetings, and via the Internet. Examples of information we receive from you include your name, address, telephone number, social security number, credit history and other financial information.
  2. Information about your transactions with us or others. Examples of information relating to your transactions include payment histories, account balances and account activity.
  3. Information we receive from a consumer reporting agency. Examples of information from consumer reporting agencies include your credit score, credit reports and other information relating to your creditworthiness.
  4. From employers and others to verify information you have given to us. Examples of information provided by employers and others include verifications of employment, income or deposits.

Information We Disclose

Your personal information will only be retained for the purpose of providing you with our response to your query and will not be made available to any third party except as necessary to be disclosed to any related entity for the purpose intended or as required to be disclosed under law.

By submitting data on our website, the visitor is providing explicit consent to transmission of data collected on the website.

We treat data as confidential within our firm and require a strict adherence of all our employees to data protection and our confidentiality policies.

All visitors, however, should be aware that our website may contain links to other sites that are not governed by this or any other privacy statement.

We reserve the right to amend (that is, add to, delete or change) the terms of this Privacy Statement from time to time.