Spring Fever
Spring Fever 🏡
Over the past year, home prices have been a hot topic of debate. Some have said we’ll see a massive drop in prices repeating the crash of 2008 – which hasn’t happened. As we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices.
Every quarter, Pulsenomics surveys a panel of over 100 economists, investment strategists, and housing market analysts regarding their five-year expectations for future home prices in the United States.
In the graph, the panelist have predicted 2023 to have a slight depreciation followed by years of steady appreciation.
Given this information, the question you might be asking yourself is: should I buy a home this spring? Here are three reasons why you should:
1. Buying a home helps you escape the cycle of rising rents.
2. A key advantage of homeownership is that it’s one of the best hedges against inflation. When you buy a home with a fixed-rate mortgage, you secure your housing payment, so it won’t go up like it would if you rent.
3. Homeownership is a powerful wealth-building tool. The average net worth of a homeowner is $255,000 compared to $6,300 for a renter.
The decision to purchase a home is best made when you do it knowing all the facts 🤙🏽
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