Is Now A Good Time to Buy?

Brittany Barnes
Dec 9, 2015
1 min read

My most frequently asked question: Is NOW a good time to buy?

Nationally, statistics show that buying a home is 23% more cost effective than renting, even though home price growth outpaced rent growth since 2012.

You might have heard some chatter about interest rates being historically low at the moment (key words *at the moment*.) Although rates were a tad lower back in 2012 (3.4% for a 30-year-fixed), quite a bit of the 2013/2014 buyers were locked into a loan that exceeded 4% interest. Today we’re looking at about 3.85% interest (or better!). It’s important to understand that interest rates fluctuate to mirror and match our current market conditions. These rates can change at any moment and the possibility of a rise is not so far fetch.

Now let’s take a look at some of the charts that Trulia has provided for us.

In today’s market, it’s actually 46% cheaper to own a home in the Houston area rather than leasing someone else’s!