According to recent data from realtor.com, median rental prices have reached their highest point ever recorded 🪁 in many areas across the country. The report found rents rose by 8.1% from the same time last year 📈 As it notes:
“Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”
If you’re a renter concerned about rising prices, now may be the time to consider purchasing a home 🏡
Renters face increasing costs every year. When you purchase your home, your mortgage rate is locked in for 30 years, meaning your monthly payment stays the same over time. That gives you welcome peace of mind and predictability for many years ahead.
Bottom Line:
With rents continuing to rise across the country, renters should consider if now is the right time to buy 🏠 There are multiple benefits to buying sooner rather than later. 📲 Contact Stephen Haw at (310) 503-9886 📲 to discuss your options so you can make your most powerful decision.
Call 310.503.9886 or email skh8828(at)gmail(dotted)com for professional guidance from The Stephen Haw Group, your local experts with international connections.