𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀 𝗵𝗮𝘃𝗲 𝗴𝗼𝗻𝗲 𝘂𝗽, 𝘄𝗼𝗻'𝘁 𝗵𝗼𝘂𝘀𝗲 𝗽𝗿𝗶𝗰𝗲𝘀 𝗰𝗼𝗺𝗲 𝗱𝗼𝘄𝗻 𝗻𝗼𝘄?
Well, no, not really.
Although increased mortgage rates have slightly reduced the pool of potential buyers, there is still a huge demand for homes and record low inventory. Home price appreciation has slowed down to more normal levels, but it is still unlikely that most homes will see values go down much.
𝗜𝗳 𝘆𝗼𝘂 𝗮𝗿𝗲 𝘄𝗮𝗶𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝗽𝗿𝗶𝗰𝗲𝘀 𝘁𝗼 𝗱𝗿𝗼𝗽 𝗯𝗲𝗳𝗼𝗿𝗲 𝗯𝘂𝘆𝗶𝗻𝗴 𝗮 𝗵𝗼𝗺𝗲, 𝘆𝗼𝘂 𝗺𝗮𝘆 𝘄𝗮𝗻𝘁 𝘁𝗼 𝘁𝗵𝗶𝗻𝗸 𝗮𝗴𝗮𝗶𝗻.
The advantage to buying a home now is that you may be able to negotiate a seller concession (ask me what that is) or at least avoid a bidding war.
𝗙𝗲𝗲𝗹 𝗳𝗿𝗲𝗲 𝘁𝗼 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝗺𝗲 𝗮𝗻𝗱 𝗜 𝗰𝗮𝗻 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝗶𝘁 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂 𝗮 𝗯𝗶𝘁 𝗳𝘂𝗿𝘁𝗵𝗲𝗿. 𝗜'𝗺 𝗮𝗹𝘄𝗮𝘆𝘀 𝗵𝗲𝗿𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽.