The saying goes “You can’t fight city hall.” The same might be said of rising home prices. There’s not much you can do to fight them.
In 2022, home prices are rising fast for a number of reasons. The demand for homes is high. On top of that, the supply of homes is inadequate. New homes are being built, but not in a large enough supply to keep pace with demand. The lack of supply in the face of high demand is driving up home prices.
Interest rates are also rising. This means that any home purchased with a loan will now cost more. Unless you can purchase a home for cash, you are going to need a loan. And that loan will now cost more than it did just a short time ago.
So, what can you do about rising home prices?
The simplest answer is to act now. Prices are expected to continue rising. Interest rates are expected to continue rising. By purchasing a home now, you will likely beat the rising cost.
Be willing to adjust and widen your search criteria. You may need to search for homes in areas that are a bit farther out or in less expensive communities. Consider homes that need some work.
Lean in to your real estate agent. Let them help you meet your budget and find a home that works for you.
Connect with Kurzner Group. Let’s see if we’re a good fit to help you find the home you want in Metro Atlanta.
Contact us today and let’s get started!