Is Now a Good Time to Buy a House?

Buying a house in today’s market can feel relatively daunting. With low inventory and seemingly never-ending demand it is certainly still a seller’s market. As your local Westlake Village Real Estate team, we understand how frustrating this can be as a buyer. You may be wondering to yourself, “is now a good time to buy a home?” The answer really depends on your specific situation. You will want to consider your own financial situation and job security prior to starting the home buying process. You will want to make sure that you have substantial savings, decent credit, and are comfortable with the home purchase price you are considering.
Our Westlake Village Real Estate team is here to walk you through the entire process to make sure that you are making a wise financial investment in your family’s future. While interest rates are on the rise, they are predicted to stay below 4% for the remainder of 2022. While this higher than the historic lows we were seeing about a year ago, it is significantly lower than the well over 5% rates we were seeing back in 2018. Home prices have increased exponentially since this same time last year. However, they are predicted to rise another 5.7% over the course of 2022. This means that is still likely a wise choice for you to purchase a home now.
If you are considering buying or selling your home but are hesitant and have some questions we are always here to help. Our team wants to always make sure that you are comfortable with one of the biggest financial decisions you will make in your life. We understand that this is not a simple transaction but a new place to raise your family. We love the ability to welcome our clients home but want to make sure that you are comfortable with the entire process.