Key Advantages of Buying a Home Today

Real Estate Agent with The Medford Real Estate Team DRE#01223788

I am re-blogging this excellent post because of it nation-wide applicability. The author is in Florida but what Walter says is pertinent to my market in the San Francisco Bay Area in California.

Original content by Walter DiLoreto SL3302417

There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined their search due to rising mortgage rates.

Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today.  The reality is, headlines do more to terrify people thinking about buying a home than they do to clarify what’s actually going on with real estate.

Here are three reasons potential homebuyers should consider buying a home today.

1. More Homes Are for Sale Right Now

According to data from the National Association of Realtors (NAR), this year, the supply of homesfor sale has grown significantly compared to where we started the year (see graph below):

This growth has happened for two reasons: homeowners listing their homes for sale and homes staying on the market a bit longer as buyer demand has moderated in response to higher mortgage rates.

The good news for you is that more inventory means more homes to choose from. And when there are more homes on the market, you could also see less competition from other buyers because the peak frenzy of competing over the same home has eased too.

2. Home Prices Are Not Projected To Crash

Experts don’t believe home prices will crash like they did in 2008. Instead, home prices will moderate at various levels depending on the local market and the factors, like supply and demand, at play in that area. That’s why some experts are calling for slight appreciation and others are calling for slight depreciation (see graph below):

If you consider the big picture and average the expert forecasts for 2023 together, the expectation is for relatively flat or neutral price appreciation next year. So, if you’re worried about buying a home because you’re afraid home prices will crash like they did in 2008, rest assured that’s not what expert projections tell us.

3. Mortgage Rates Have Risen, but They Will Come Down

While mortgage rates have risen dramatically this year, the rapid increases we’ve seen have moderated in recent weeks as early signs hint that inflation may be easing slightly. Where they’ll go from here largely depends on what happens next with inflation. If inflation does truly begin to cool, mortgage rates may come down as a result.

When that happens, expect more buyers to jump back into the market. For you, that means you’ll once again face more competition. Buying your house now before more buyers reenter the market could help you get one step ahead. As Lawrence Yun, Chief Economist for NAR, says:

“The upcoming months should see a return of buyers, as mortgage rates appear to have already peaked and have been coming down since mid-November.”

When mortgage rates come down, those waiting on the sidelines will jump back in. Your advantage is getting in before they do.

Bottom Line

If you’re thinking about buying a home, you should seriously consider the advantages today’s market offers. Let’s connect so you can make the dream of homeownership a reality. 


Contact us:
PHP Houses
142 W Lakeview Ave
Unit 1030
Lake Mary, FL 32746
Ph: (407) 641-1531
Fax: (407) 205-1951

Let’s Connect:

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Comments (13)

Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude


Good article to share, but it's clear that in any market buyers would benefit from the guidance of a local agent, like yourself, who knows the ins and outs of the local market conditions and how they impact buying and selling. Real estate IS local. Our inventory, in general, while better than at the beginning of 2022, is not going up right now, but that may be the time of the year, too.


Dec 07, 2022 07:45 PM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello John Juarez these are very good list of key advantages of buying a home today.

Dec 07, 2022 08:22 PM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

We had our monthly zoom call today with our data provider (Urban Digs). Most of the call is focused on technical analysis for the Manhattan market with some broader macro economics also discussed. 

What we are seeing is the market pulse (the ratio btwn pending sales & listings on the market) is in buyers market territory, though very slight, as listings continue to decline - and that decline is below seasonal norms. The market pulse is strengthening - indicating that we may have hit the bottom. Manhattan trends to move within a channel. For those not familiar with technical analysis- you will more frequently see a stock trader present a chart of the performance of a stock or index- and the analyst will draw a top and bottom line that forms the channel where the bulk of the trading activity has been - excluding the extreme highs and lows.  The same can be said when charting Manhattan real estate sales activity. What we have observed is that while the average price is down, the median price is up slightly- obviously because we have some extreme outlier properties (i.e. Billionaire's Row on 57th St- apartments that can sell in excess of $50m). We are also experiencing the same on average price per sq ft vs. the median price per square foot. While it's clear the storm is not over yet, the lack of inventory, rising price per sq ft- all indicates that we are either at the bottom or likely close to the bottom. There are some weaknesses in trying to use technical analysis - i.e. co-op's are not real property so that often there is no provision for the square footage of the apartment. There is an extremely long delay between contracts being signed and closing- typically 4-6 months- so it's entirely possible the lag in the data is throwing us for a loop. With those exceptions taken into consideration, I think we are experiencing a small positive bump in an overall bear market. Overall, I think we start to round the corner in 6-9 months until we are fully out of this bear market cycle. 

Dec 07, 2022 08:24 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John Excellent reblog, it applies to the Greater Los Angeles area too, Endre

Dec 07, 2022 10:52 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

There has been quite the drop just recently and I’m really hoping that does help a lot of people with that this holiday as well

Dec 07, 2022 11:58 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

John, even though the rates are higher now, they won't be forever, and inventory is plentiful and sellers are offering concessions.  GREAT time to buy.

Dec 08, 2022 06:24 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

This is a really good, honest assessment of the market today (and in the future). Rent is so high, I cannot come up with a reason not to buy!

Dec 08, 2022 07:06 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

A good post to re-blog, John. I agree with the 3 bullet points!

Jan 02, 2023 02:30 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing this reblog selection.

Have a productive January.

Jan 18, 2023 11:03 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

John, thought I had seen some postings from you, but maybe not.   Hope your business is doing well.

Jan 22, 2023 07:47 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Saturday afternoon, John.

Have an outstanding weekend.

Jan 28, 2023 10:48 AM
Patricia Feager, MBA, CRS, GRI,MRP
Selling Homes Changing Lives

John Juarez - Excellent reblog! I wish the best for you. 

Mar 01, 2023 01:33 PM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi John Juarez. It's a nice post to reblog. It definitely applies to our market her in South Texas too. Have a Blessed Week!

Mar 19, 2023 06:37 PM