Is Now a Good Time to Buy a Home?
If you have been browsing Moorpark homes for sale you may be wondering if now is an ideal time to purchase a new home. While there are always blanket statements for these types of questions, the true answer will depend on your unique situation. If you are considering any Moorpark homes for sale and need advice on the right decision, we are always here to help. Generally speaking, now is an excellent time to buy a home. See below for a few of the top reasons why now is a great time to make a purchase despite the rise in interest rates.
• Renting: If you are currently renting either a home or an apartment and you are curious as to whether or not you should buy a home in today’s market the answer is always yes. Whatever it takes for you to enter the homeowner market will be worth it. The equity you will build in your home over time will always pay off compared to rising rental rates.
• Rates: Rates are actually expected to decline slightly and level off throughout 2023. When comparing rates to the last year they can sound extremely high, but they are actually still historically low to average in comparison to the last 30 years.
• Values: Home values are not headed towards any kind of crash. This can be reassuring when looking at homes for sale as to whether or not you are making a wise investment.
• Concessions: As the mass of buyers have left the market, sellers are more likely and willing to concede to buyer demands. In fact, in the last month 42% of buyer demands were met by sellers.
Remember your unique situation can always change the game but as a general rule right now is an excellent time to buy a home, particularly your first home!