Two reasons why trying to time the housing market doesn’t work.
“When is the best time to buy or sell real estate?” We receive this question all the time, and we understand why. After all, everyone wants to get the best deal possible. However, most experts will tell you that trying to time the market is a fool’s errand, and there are two main reasons why.
First,
real estate is volatile in the short term but very safe in the long term. Take this most recent market shift, for example. People who bought their homes in March 2022 didn’t know interest rates were about to shoot up and make houses less affordable. They just needed to move and made that decision. For many of those buyers, their homes may have lost value since they purchased them; however, this doesn’t matter in the long run. Real estate always appreciates over time, so as long as you plan on staying in your home for five or more years, you have nothing to worry about.
Second, since real estate always appreciates over time,
you’ll start gaining equity sooner if you buy now instead of later. Delaying your purchase because you want market conditions to change doesn’t make sense financially. Even waiting two or three years can have a major impact on your equity down the line. The truth is that your primary residence is not a speculative asset—it’s a home, and your long-term investment.
If you have questions about this topic or anything else, please call or email us. We are always willing to help!