Should You Buy a Home During High Inflation?

Posted By Andrea Robinson
August 29, 2022 Category: General

  With inflation reaching a high that we haven't seen for quite some time, many people are cutting back on their spending. But for those of us who are shopping for homes and have cash on hand for a down payment, that doesn’t mean we need to put our dream home on the back burner until things look better!   Periods of high inflation like these create a ton of opportunities! Here are three reasons why you should buy a home during high inflation:   Spike in interest rates is influencing the housing market   While inflation may be at an all-time high, the Fed is working to bring it down. A direct result of that is that the real estate market is FINALLY starting to cool down.   So if you’re in the market for buying a home, you’re in luck! The supply of homes is at the highest it’s been since spring 2020 and the prices are coming down as well.   These two things paired together make it a lot easier to snag up a home - most homes are spending a lot more time on the market and have way fewer competing offers on them.   Appreciation of real estate never stops   While some homes have acquired way too much value over a short period (and are quickly losing it), these homes are still worth their fair market value. It’s only being corrected due to the bubble we had from such low-interest rates and homes being in such demand.   Over time, buying a home (or any piece of real estate) is AL