Should You Buy a Home Now or Wait?

Описание: With mortgage rates still a key concern, many prospective buyers are wondering whether to purchase a home now or hold off until next year. The answer depends on several factors—including your financial situation, the current market conditions, and future mortgage rate projections.

Key Video Highlights:
Once expected to drop below 6%, the 30-year fixed mortgage rate now stands at 6.85%. Veros projects the 30-year mortgage rate to be around 6.6% by the end of 2025, a forecast echoed by Fannie Mae, which also predicts 6.6% in Q4 2025. Similarly, Wells Fargo and the Mortgage Bankers Association anticipate rates near 6.5% by year-end. This consensus reflects expectations of persistent inflation, likely limiting the market to a single rate cut.

Veros’ VeroFORECAST projects a 2.7% increase in housing prices for 2025, signaling stability rather than a market crash this year.

The month’s supply of existing homes has risen to 3.5 months, up from 3 months over the same period last year. Meanwhile, inventory has reached 1.18 million homes—the highest January level since 2020.

Foreclosures are expected to remain low in 2025, as 40% of homeowners own their homes outright and many others have built substantial equity.

While some prospective home buyers are waiting for better conditions, there’s no guarantee that rates or home prices will improve significantly in the near future. So, is now a good time to buy? That depends on your personal circumstances. According to Veros’ economists, if you can comfortably afford the down payment and monthly mortgage payments, now remains a strong opportunity to invest in a home.

Housing is a long-term investment that historically appreciates in value, making it a strong wealth-building opportunity. Plus, with mortgage interest being tax-deductible, homeownership offers additional financial benefits.

00:00 Introduction
00:35 Mortgage Rate Predictions
01:54 Home Price Forecast
02:29 Housing Supply
03:34 Foreclosures
03:49 Is it a good time to buy a home?