💡2025 Real Estate Dilemma: Is It Better to Buy Now or Wait? 🤔
Hello Hampton Roads, Is it better to buy now or wait? That's the question I am hearing the most with the start of the new year from both first time homes and repeat home buyers alike. The answer it it depends. Deciding whether to dive into the housing market or hold off is one of the most pivotal choices you can face. With fluctuating mortgage rates and evolving housing dynamics, the right move depends on your personal circumstances, financial preparedness, and market trends. Let’s dive into the factors shaping the 2025 real estate landscape and offer actionable advice to guide your decision. Mortgage Rates: Where Are They Headed? In recent years, mortgage rates have risen from historic lows. As of January 2025, average 30-year fixed mortgage rates hover around 6.5%-7%. While these rates are higher than the sub-3% rates seen in 2021, they are still historically moderate compared to the 1980s, when rates exceeded 10%. Additionally, according to the Fannie M...
