The Cost of Waiting to Buy
According to a recent survey by the NAR, the top 2 reasons prospective home buyers gave for not buying in today’s current environment were:
- Navigating multiple offer situations.
- Waiting for interest rates to fall.
Let’s talk about that…
39% of prospective home buyers said they were waiting for interest rates to fall! Now more than ever it’s important you understand the impact of waiting for interest rates to fall, especially when inventory is so low.
Below is a quick summary of a visual. What this analysis does not take into account, and which improves the picture even more, is that if the buyer purchases today they can refinance at the lower rates in the future, lowering their payments and taking advantage of the price appreciation and principal payments they’ve made over time.
Have questions? Let’s talk https://soldbynat.com/contactme/
Watch a related video – The Miseducation of Homebuying *Realtor & Lender Perspective* https://youtube.com/live/24OdhYCYGBc
