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Should I postpone buying if housing market is slowing?

Good things don't always come to those who wait
Published on Nov 28, 2005

The word is out that the home sale market has changed. Interest rates are rising and, in some areas, homes are selling at a slower pace than they were a year ago. So buyers are finally gaining an edge. And this could be a good time to buy before rates rise further. An increasing number of homeowners are convinced that now is a good time to sell, so the inventory of homes for sale is increasing. Why are more sellers willing to sell? They fear that the change in the market might lead to lower home prices going forward. Does this mean that you should postpone buying to see if they're right? No one knows for sure whether home prices will decrease from recent highs, remain relatively unchanged or continue to rise but at a lower pace as interest rates rise. There's risk if you buy now and there's risk if you don't. If you postpone your purchase and prices rise along with interest rates, you will pay more than you would today. In a flat market, you could also pay more by waiting if interest ...

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