The 2015 State of the Nation’s Housing Report was just recently released by the Joint Center for Housing Studies at Harvard University. Due to the diminishing supply of quality rental units and dramatically escalating rents, the report concentrated on the challenges renters in this country are facing. But, information found within the report that revealed that now is definitely the time to buy.
Home prices still below peak values and mortgage rates still near historic lows, the monthly mortgage payment on a median priced home is less than almost any time in the last 25 years. Here is a graph which helps visualize the data from the report:
With home prices increasing and mortgage rates historically low and projected to increase, NOW is the time to buy.