Buying a home can’t get any worse, right? It can —and probably will
Lower interest rates spur housing demand — but with supply so tight, prices have nowhere to go but up
Prospective homebuyers are understandably feeling the pressure of high interest rates and historically high prices. According to Fannie Mae, four in five Americans think it’s a bad time to buy. Yet this may be a better time to buy than any other point in the near- or medium-term future.
That advice may seem at odds with the headlines: U.S. mortgage rates are around 7% and home prices continue to rise (the FHFA just reported a rise of almost 7% in the first quarter of 2024 compared to the same quarter of 2023). Add in flagging consumer sentiment due to…
Read the rest of this analysis on Wall Street Journal’s MarketWatch
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