In 2017, the housing market was defined by , which hovered around 3.9% to 4.0% for most of the year. For many, this presented a "last chance" to lock in lower monthly payments before the Federal Reserve’s planned interest rate hikes took full effect.
Housing starts were projected to increase to 1.33 million units in 2018, offering more options for those frustrated by the lack of existing homes.
The decision between buying a home in late 2017 versus waiting until 2018 presents a classic tradeoff between and potential inventory relief . The Case for Buying in 2017 should i buy a house now or wait until 2018
The benchmark 30-year fixed-rate mortgage averaged 3.99% at the end of 2017.
For those who waited, the primary hope was a . Some analysts predicted that more homeowners would list their properties, potentially slowing the rapid price surges seen in previous years. In 2017, the housing market was defined by
Mortgage rates rose significantly, averaging roughly 4.44% by early 2018 and even touching 5% later in the year. This increase in rates often offset any benefits from slower price growth, significantly reducing overall home-buying power . Historical Comparison: 2017 vs. 2018 Late 2017 (Actual) 2018 (Forecast/Actual) Avg. Mortgage Rate (30-yr) ~3.9% – 4.0% ~4.5% – 4.8% Home Price Growth 6.3% increase 4.9% projected increase Market Condition Extreme inventory shortage Modest inventory growth
If you prioritized monthly affordability , buying in 2017 was generally the better move to secure a lower interest rate. If you were focused on selection and were willing to pay a premium in interest for a house that better fit your needs, waiting for the 2018 inventory bump was a viable, albeit more expensive, strategy. AI responses may include mistakes. Learn more The decision between buying a home in late
Home prices rose roughly 6.3% nationally in 2017. By buying earlier, homeowners could capture this equity growth rather than paying a higher entry price later.