Is Now the Right Time to Buy Real Estate? Here's What You Need to Know

Many people are uncertain whether now is a good time to buy real estate.

An important point should be noted regarding buyers that are waiting out the market, hoping prices will drop. If you factor in the likelihood of interest rates rising along with the historical movement of the real estate market, it's more likely that waiting is a losing bet.

Every 1% that mortgage rates rise, you lose about 11% in buying power. Home values would have to drop by 11% if mortgage rates rise just 1% more to get the same payment. With the efforts still being made to curb inflation in our country, we expect rates to continue climbing.

Austin has the fundamentals in place for continued growth: a strong job market, limited inventory, and continued demand. Because of this, along with the market's history and future expectations, we believe now is a great time to buy.

If you have any questions, we are happy to help answer them.