Living in Front Royal, VA in 2026: What Does It Really Cost to Buy a Home?Buying a home in Front Royal, Virginia, can look affordable when you compare list prices with Northern Virginia. But the
Does It Make Sense To Buy a Home Right Now?
Dated: March 21 2024
Views: 311
Does It Make Sense To Buy a Home Right Now?
Thinking about buying a home? If so, you're probably wondering: should I buy now or wait? Nobody can make that decision for you, but here's some information that can help you decide.
What’s Next for Home Prices?
Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.
In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):
Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.
And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home's value goes up by 3.78% this year, it's set to grow another 3.36% next year. And another 3.87% the year after that.
What Does This Mean for You?
Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.
If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:
In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.
Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.
Bottom Line
If you're thinking it's time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.
Andrew Robertson
Meet our exceptional REALTOR licensed in Virginia, servicing The Northern Shenandoah Valley & Western Loudoun. With a client-driven and relationship-centered approach, Andrew's focus is on providing y....
Latest Blog Posts
Are Data Centers Coming to Winchester VA? Pros, Cons & What It Means for the Northern Shenandoah ValleyRight now, the Northern Shenandoah Valley is at a crossroads.Communities like Winchester,
Northern Shenandoah Valley Housing Market Update: What Clarke, Frederick, and Warren Counties Are Telling Us About 2026If you’re trying to figure out where the Northern Shenandoah Valley
Berryville, Virginia gets talked about a lot—but what most people don’t fully understand is what it actually costs to live here.If you’re considering a move to Berryville in 2026,
Charlottesville Area Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
© BRIGHT, All Rights Reserved
