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I bought at a similar time, right as rates were starting to really tick up. I got in at 3.75%. That time looks to be the tipping point, but in which direction i

I bought at a similar time, right as rates were starting to really tick up. I got in at 3.75%. That time looks to be the tipping point, but in which direction is still not clear to me. Decreasing home value only matters if you need to sell. If you plan to live in your home for a long time, the changes in the dollar value of the house in the meantime aren't as big of a deal. However, spring was clearly the peak of this market, and it's hard to know how long it will be until a house reaches the same dollar value. It depends a lot on how long interest rates stay high.

BuckRogers 4y ago
I've been in the market for a home since summer 2021 and learned a lot. I've gone through multiple agents, realizing how useless most of them are. The one I do find useful said the buyers disappeared around April of this year. Which lines up with your stories. I think buying around April is not the worst possible situation. You at least got the good rates, even if you got peak pricing. I've been grinding on sellers so hard that we either backed out or lost our deals. I'm flush with cash so other than not having a home, happy I'm still in the market as I expect sellers to get the message on the state of the market by January. 2023 is the year for anyone that has cash and has been waiting. My deal won't be perfect either. It may require years of waiting to hit the bottom of the market. I am expecting 2019 pricing soon in my market in 2023, which is all that I'm aiming for.