How do the price adjustment savings stack up?
In a comparison of the February 2022 average home price, which was the peak of the 2022 market, to the September 2022 average home price, we see that there is a savings of the amount of down payment required and the total amount of mortgage required.
However, the Cash flow Difference, though minimal, is in the negative due to the increase in the mortgage rate.
My last post demonstrated that the average price was now stable and, if we experience an increase in buying activity in the spring market (which causes prices to increase), then the Cash flow difference will increase further into the negative.
Buying before February 2023 may be a prudent decision.
Contact me to discuss your options. I am here to help.