Home buying right now is completely different to what it was the last couple of years. We are not really seeing major price drops as much as we are seeing less appreciation and homes are on the market longer. The higher interest rates are sidelining a lot of buyers. This can be an opportunity to purchase a home without overbidding or losing out on a home because you were outbid. Yes, the monthly mortgage payment will be higher, but remember: you marry the house and only date the rate. If you bought now you could then refinance into a lower mortgage payment when rates fall. Here is a chart that shows the average home price and length of time the home is on the market.

Feel free to call me at 503-7013-4699 or email me at sbfreedom@gmail.com if you have any questions and we can run some numbers.