Buy a Home Now or Wait? Waiting Likely Costs More
1. Why it matters: Home prices are forecast to keep rising nationally. Delaying your purchase means potentially paying more later and missing out on building equity sooner.
2. What’s happening:
- Prices climbing: Experts predict steady, sustainable home price growth (around 3-4% annually) through at least 2029. The days of sharp spikes are likely over, but appreciation is expected to continue.
- Timing is tricky: Trying to perfectly time the market for lower prices or rates rarely works. Waiting could cost more than buying now, even if rates dip slightly, due to rising home values.
3. By the numbers:
- Based on forecasts, a $400,000 home bought in 2025 could appreciate by nearly $80,000 by 2030.
- This potential equity gain is wealth you miss out on by waiting.
4. The big picture:
- Long game: Homeownership builds wealth over time. The sooner you buy, the sooner you start building equity.
- Focus shift: The key question isn’t if you should wait, but if you can afford to buy now.
- Strategies exist: Explore different neighborhoods, financing options, and down payment assistance programs to make ownership possible today.
5. What the Experts Are Predicting with Mortgages
Here’s a look at the average forecast across these institutions for the remaining quarters of 2025:
- Q2 2025: The average projected rate sits at . Forecasts range from Wells Fargo’s to the MBA’s .
- Q3 2025: A slight easing is anticipated, with the average projection dipping to . Individual forecasts range from (Wells Fargo) to (MBA).
- Q4 2025: The trend continues downward, with an average forecast of . Projections span from (Wells Fargo) to (MBA).See mortgage rate projections into late 2025 and 2026 in this post
5. Bottom line: Time in the market generally beats timing the market. Don’t wait for a perfect scenario that may never come.
Disclaimer: This blog post is for informational purposes only and does not constitute financial advice. Consult with qualified professionals before making any financial decisions.
Michael Mahoney
617-615-9435
mike@mmahoney.com
www.HomesinBostonMass.com
10 Common Street #645
Walpole, MA 02081
MA. License #9051300
Real Broker LLC License #423031
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- Who: Michael Mahoney, full-time Realtor.
- Where: Greater Boston (Norfolk & Suffolk Counties).
- Experience: 20+ years in home ownership, wealth building & investment.
- Mission: Help clients achieve life goals through real estate.
- Clients: All price points; strong repeat & referral business.
I work in all price points. The majority of my business is repeat clients and the referral of clients from all over Eastern Massachusetts.
I view my role as the advisor who helps people go from the life they have to the life they dream about. I help people go from the “what if” to the “what is”
- Broad Expertise: Sold hundreds of properties – mobile homes to estates, multi-families, condos.
- Specialty: “From section eights to great estates” – no residential property too small or large.
- Area Served: Primarily Norfolk & Suffolk; also Plymouth, Bristol, Middlesex counties.
- Client Commitment: 7-day/week availability, backed by expert market research for targeted results.
- Value: Decades of diverse sales provide invaluable situational awareness for clients.
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