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Is it the Right Time to Buy a Home?

There is never a perfect way to time the housing market. Given the situation of the economy right now, this is more of a downturn rather than a recession. There are still opportunities that home-buyers have in 2023. Due to both short- and long-term stresses, the housing market isn’t acting as it normally would creating what the article described as a perfect storm. The housing market has cooled down as a result of rising interest rates, which is slowly affecting house prices. A report cited in the article claims that home prices have fallen seven straight months, with price growth falling 2% in December 2022 to January 2023. House prices may continue to decline in 2023 if this pattern holds. Despite all the variables, buying a house is a long-term investment, so it is all dependent on your own circumstances.

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