Home prices rose roughly 6.3% nationally in 2017. By buying earlier, homeowners could capture this equity growth rather than paying a higher entry price later.
Housing starts were projected to increase to 1.33 million units in 2018, offering more options for those frustrated by the lack of existing homes. should i buy a house now or wait until 2018
For those who waited, the primary hope was a . Some analysts predicted that more homeowners would list their properties, potentially slowing the rapid price surges seen in previous years. Home prices rose roughly 6
Mortgage rates rose significantly, averaging roughly 4.44% by early 2018 and even touching 5% later in the year. This increase in rates often offset any benefits from slower price growth, significantly reducing overall home-buying power . Historical Comparison: 2017 vs. 2018 Late 2017 (Actual) 2018 (Forecast/Actual) Avg. Mortgage Rate (30-yr) ~3.9% – 4.0% ~4.5% – 4.8% Home Price Growth 6.3% increase 4.9% projected increase Market Condition Extreme inventory shortage Modest inventory growth For those who waited, the primary hope was a
The decision between buying a home in late 2017 versus waiting until 2018 presents a classic tradeoff between and potential inventory relief . The Case for Buying in 2017
