Is Buying a Home Still a Good Investment?

Luna Ruth
Most experts predict that home prices will continue to rise throughout 2022 and 2023, although possibly at a slower rate.

By now, this is probably a familiar story: A hopeful home buyer makes a strong offer on their dream home — above asking price, significant earnest money deposit, no inspection contingency, etc. — only to get outbid by a higher offer or someone paying all cash.

Thousands of Americans have had similar experiences during what’s been one of the hottest housing markets we’ve seen since before the 2008 crash. And while things have cooled off a bit, inventory is still incredibly low and home prices are still much higher than average. Combine that with rising interest rates and it’s no wonder buyers are starting to ask the question: Is buying a home still a good investment?

How did we get here?

In March 2022 the National Association of REALTORS® (NAR) reported that the median existing-home price for all housing types was $375,300, up 15.0 percent from March 2021 ($326,300). This marked 121 consecutive months of year-over-year increases, the longest-running streak on record.

https://www.lansingstatejournal.com/story/marketplace/real-estate/2022/05/05/buying-home-still-good-investment/9658235002/

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