When Is The Best Time to Sell Your House is When Others Aren’t Selling.Īre you considering selling your house? If so, timing is everything. To learn more about the Prescott, Arizona real estate market contact Michael Eastwood CEO of West USA Realty of Prescott at 92 or visit us at and Michael will introduce you to one of his professional real estate agents.(Each office is Independently owned and operated) #Prescottrealestate #Prescotthomes #Prescottland #Prescottvalleyrealestate #Prescottvalleyhomes #Prescottvalleyland #Chinovalleyrealestate #Chinovalleyhomes #Chinovalleyland #Arizonarealestate #Arizonahomes #realestate #homes #prescott #chinovalley #Prescottvalley #buyers The graph below uses national data on the median rental payment from and median mortgage payment from the National Association of Realtors (NAR) to compare the two options. In contrast to renters who face rent hikes every year, homeowners with a fixed-rate mortgage can lock in a monthly mortgage payment for the duration of their loan (typically 15-30 years). With rents much higher now than they were in more normal, pre-pandemic years, owning your home may be a better option. The median asking rent was $1,732, up by $15 from last month, but it's still $354 (25.7%) higher than the same time in 2019 (pre-pandemic). Even though the rental market experienced single-digit growth in March 2023, according to the latest rental report from, rents continue to grow today. In this article, we'll discuss the reasons why buying a home makes more sense than renting today.ĭata from the Census shows that rents have been climbing pretty steadily since 1988. Why Buying a Home Makes More Sense Than Renting TodayĪre you wondering whether you should continue renting or buy a home this year? With rental affordability being a challenge for years, owning a home might be a better option, especially if the long-term trend of rents increasing each year continues.
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