Economists would love to say home prices have finally hit "bottom" but it's too early to say. We’ll only know they have hit the bottom after we have seen consistent home price appreciation. We haven’t.
Right now we have global economic instability like we have never experienced before. Depending on who you listen to, we are either headed for massive deflation or massive inflation.
If you are uncertain about your job or economic future, or if you are only been interested in buying a home “as an investment”, you are better off renting. If you don’t think you would want to stay in a home for 7 to 10 years, or you may have a job transfer on the horizon, renting is a better idea too because we most likely won’t see home prices going up for a while. If you buy a home, and then need to sell before the 10 years or so, you will most likely lose money.
Remember, you should really only buy a home right now because it's a nice place to live and you are staying put. Do not buy a home as an "investment." The easy-money days of rapid home appreciation are not coming back anytime soon.
For information on apartments in Raleigh, NC contact Auston Grove Apartments.