If you're looking to make a home purchase, whether for the first or umpteenth time, this is a question I hear a lot. If you're like most people, this might also be on your mind.

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When is the best time to buy a home?

My answer to that is simple and the same for everyone I speak with: the best time to buy is when it makes the most sense to you, your situation, and your finances. Often, life changes and circumstances are what drives a real estate transaction.

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Here's where that gets dicey: a lot of folks attempt to "time" the market. Think of this as time IN the market rather than trying to time the market. The more time you have invested in anything, the more benefits you see to your overall net worth. It's not a short term game.

I talked to many people over the last few years who were going to wait until things cooled off.  This was in the heat of the low interest rate, multiple offer frenzy that we saw coming out of the 2020-2022 real estate market. 

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Some of these same folks are now saying they wish they took advantage of the low interest rates that were available then. 

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Have things cooled off? Sure. Interest rates are playing a part in that. According to the latest data, the average sale price is down 4.3% in the Portland Metro area (March 2022 vs. March 2023). That has ushered in the opportunity for a lot of folks to actually negotiate with a seller for a lower price, closing cost credits, and repairs. 

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And we're STILL seeing multiple offer situations in many places! 

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At any point in time you look to buy you will find benefits and downfalls. But I advise you to look at the big picture: real estate is NOT a short term investment. Rather, take the long view and think of it as something (an asset) you're going to hold for many years.

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If you're curious about what that might mean for you, and where you could start, let's connect.

Jennifer Schurter is a real estate agent and expert marketer serving the Greater Portland, Oregon Metro Area and the Willamette Valley of Oregon. If you're looking to get started on the journey to buying a home, selling a home, or investing in real estate assets, you may reach Jennifer at jen@jenschurter.com.