Does It Make Sense To Buy a Home Right Now?

FP Does it make sense to buy a home

Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.

What’s Next for Home Prices?

Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.

In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):

Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.

And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that.

What Does This Mean for You?

Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.

If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:

In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.

Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.

Bottom Line

If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.

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Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.

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What My Clients Have To Say

maclir2001

Sold a Single Family home in Petaluma, CA.

Timo and his team guided me through the preparation for showing, including all inspections and document gathering, the actual showing, and help with negotiations so it was an easy and successful sale. It was a textbook-positive process.

His team gave me confidence and clarity through the whole experience. I recommend Rivetti Real Estate fully and happily.

Bravo and thank you, Timo!

Rebecca Brown

Bought a Townhouse home in Petaluma, CA.

Timo helped me buy my first house! (Still can't believe it!) I had a lot of questions, but he and his associate Renee were patient, professional, and fast in answering all of them. I found Timo through a friend and he could not have been more helpful and knowledgeable about the whole process for this noob home buyer. Highly recommend he and Renee and am so grateful to my friend for recommending him.

Kevin76298

Bought and sold a Multiple Occupancy home in Petaluma, CA.

I cannot say enough about my incredible experience with Timo and his assistant Renee. I am 22 years old and had a dream of buying a house in westside Petaluma. Most people would say that is impossible, well not if you have Timo on your side! Timo walked me through the process and made me feel so comfortable and confident throughout the whole process. Timo truly had my back and did the impossible and I now am a proud owner of a house in west side Petaluma. I will be using Timo for any purchase or sell I ever have, and I recommend you do the same. Thank you again Timo! Together we “Made History”

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If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.