Is It Still a Good Time to Buy a Home? (Even with High Rates?)
The Elephant in the Room. You’ve probably seen the headlines: mortgage rates are high. Like "double what they were in 2021" high. And if you're wondering whether right now is a bad time to buy a home, you're definitely not alone.
But here's the truth: while the rate might sting, waiting could hurt more. In this market, timing isn’t everything. Strategy matters more.
The Myth of the "Perfect" Rate. Buyers are holding out for that magic sub 4% rate to come back like it's a clearance sale. But the reality? Those days are gone for now. What we’re seeing today is the new normal (think 6 to 7% range), and rates fluctuate.
You can always refinance when rates drop. You can’t go back and buy the perfect house after it’s off the market.
Rent Isn’t the Safe Zone Anymore. Rents are soaring in markets like Cary, Raleigh, and across the Triangle. For some renters, monthly payments now rival or exceed a mortgage.
When you buy, you’re building equity, not your landlord’s retirement account.
Less Competition Means More Leverage. High rates have cooled the frenzy. That means:
Fewer bidding wars
More time to decide
Sellers open to concessions (think rate buydowns, closing costs, even repairs)
It’s a rare combo: motivated sellers and buyers with leverage. That’s not something we saw in 2021.
Home Prices Are Still Rising. Despite what some headlines suggest, home values in much of North Carolina are not crashing. Appreciation has slowed, but prices are still inching upward. If you're waiting for a big dip, you might be left watching from the sidelines.
It's About the Right Move, Not Just Right Now. Buying a home is a long game. Rates may rise and fall, but locking in a property that fits your life, your goals, and your future? That’s the real win.
Still wondering if now’s the right time to buy? Let’s talk. I’ll walk you through your options and help you make a confident move. No pressure, just clarity.
