Despite these hurdles, experts from Forbes and Rocket Mortgage argue that buying a home remains a sound long-term strategy for several reasons:
For years, homebuyers enjoyed historically low mortgage rates, but that tide is turning. Rates reached as low as , but experts at Realtor.com and the NAR predict they will climb toward 4.5% to 4.6% by the end of 2017. is buying a house a good investment 2017
Homes are selling faster than last year, with the median age of inventory at just 68 days . 3. Price Appreciation is Slowing (But Not Stopping) Despite these hurdles, experts from Forbes and Rocket
While a 1% jump might not seem like a dealbreaker, it can add roughly for the average home. If you’re on the fence, locking in a rate sooner rather than later could save you thousands over the life of your loan. 2. The Inventory Crunch Why It’s Still a "Qualified Yes"
The biggest challenge for buyers in 2017 isn't just price—it's availability. Inventory is down approximately in major metros. Builders are only producing new homes at about 60% of their historical rates , leading to a serious shortage of "starter homes".
With high demand and low supply, 2017 remains a strong seller's market.
While prices aren't expected to drop, the rapid growth we saw in 2016 is expected to cool slightly. Predictions suggest a in home values this year, compared to the 5-6% gains of previous years. This "moderation" is actually a sign of a healthier, more sustainable market, though it means you may not see the same immediate equity jumps as those who bought in 2012. 4. Why It’s Still a "Qualified Yes"