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You are here: Home / Blog / Market Trends

Should I buy a home right now?

July 13, 2022

Should I buy a home right now?

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.

The future of home price appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Estimated Home Price Performance

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market.

“People should not anticipate another double-digit price appreciation. Those days are over,” says Lawrence Yun, Chief Economist at the National Association of Realtors (NAR). “We may return to more normal price appreciation of 4%, 5% a year.”

For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead.

What does that mean for you?

To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Household wealth

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.

Bottom Line

If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation. Let’s connect to begin your home buying process today.

Filed Under: Market Trends Tagged With: Appreciation, Home Equity, Home Prices

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"My wife and I are now living in a home we saw in person for the first time a few days ago, in fact just an hour before we signed the closing documents. That’s the kind of trust we have in Russ Fortuno. As a buyer’s agent, you could not ask for more. He listened carefully to what my wife and I had in mind and then repeatedly, told us why we wouldn’t be happy with homes we were interested in… until we asked him to take a look at the home we eventually purchased. He went above and beyond what was expected and was always available to answer our questions throughout the process in a very timely manner. I’m not sure I’ve ever experienced service like we received from Russ. I would highly recommend Russ if you are buying a home, especially if you’re not local and you need someone you can count on to look out for your best interests."
- M.H., Green Valley AZ
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- L.M., Green Valley, AZ
"100% full service. Russ walked us through each step making sure we understood the process. He was very patient with us when we fumbled a bit with DocuSign. Russ was a pleasure to work with and we highly recommend him. There’s really not a lot more we can say except that the purchase of our condo went so fast and smoothly… all due to Russ!"
- S.H., Green Valley AZ
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Russ Fortuno, Associate Broker

I'm a Southern Arizona native and year-round Green Valley resident. Whether you’re buying or selling a home in the Green Valley or Sahuarita area, you’ll experience unsurpassed service and professionalism at all stages of your real estate transaction. I welcome the opportunity to assist in your next home sale or purchase.
Meet Russ

Tierra Antigua Realty

18745 S. I-19 Frontage Rd., Ste. A105
Green Valley, AZ 85614
(520) 333-0446
Contact Russ

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