Myth 1: Home Price Crash
Myth: "It’s not a good time to buy because home prices are going to crash."
Reality: While price trends vary by local area, nationally, home prices are expected to rise at a more normal pace in 2025.
2025 Home Price Forecasts
Percent Appreciation as of 10/17/2024
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Average of All 10 = 2.6%
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Goldman Sachs = 4.4%
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Wells Fargo = 4.3%
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Fannie Mae = 3.6%
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HPES = 3.1%
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Morgan Stanley = 3.0%
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MBA = 2.7%
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Zelman & Associates = 2.3%
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NAR = 1.8%
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Freddie Mac = 0.6%
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Moody's Analytics = 0.3%
Myth 2: Student Loan Debt
Myth: "If I have student loan debt, I can’t buy a home."
Reality: It is still possible to buy a home with student loan debt.
"Nearly one-quarter of all home buyers, and 37% of first-time buyers, have student loan debt." — NAR
Myth 3: Down Payment Savings
Myth: "It’s going to take forever to save for a down payment."
Reality: If you need to give your savings a boost, look into down payment assistance. A lot of people don't know this is an option.
Most First-Time Homebuyers Qualify for Down Payment Assistance, But Few Use It
- 80% qualify for down payment assistance.
- 13% actually use down payment assistance.
Some Highlights
- There are a number of scary myths about homebuying in today's market. Here's what you need to know.
- Prices are not expected to crash, it is possible to buy even with student loan debt. and there are programs that can help you save for a down payment.
- Don't let scary myths delay your homebuying plans. Connect with an agent so you have a pro to help you separate the facts from your fears.
