Blog > Time in the Market Beats Timing the Market in Massachusetts and Connecticut

Time in the Market Beats Timing the Market in Massachusetts and Connecticut

by Jennifer Albert

Trying to decide whether it makes more sense to buy a home now or wait? There’s a lot to consider, from what’s happening in the market to your changing needs. But generally speaking, aiming to time the market isn’t a good strategy – there are too many factors at play for that to even be possible.

That’s why experts usually say time in the market is better than timing the market.

In other words, if you want to buy a home and you’re able to make the numbers work, doing it sooner rather than later is usually worth it. Bankrate explains why:

“No matter which way the real estate market is leaning, though, buying now means you can start building equity immediately.”

Here’s some data to break this down so you can really see the benefit of buying now versus later – if you’re able to. Each quarter, Fannie Mae releases the Home Price Expectations Survey (HPES). It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts are projecting home prices will continue to rise through at least 2029 – just at a slower, more normal pace than they did over the past few years.

What Does This Mean for Homebuyers in Massachusetts and Connecticut?

To give these numbers context, let’s use a typical home value to show how it could appreciate over the next few years using those HPES projections. This is what you could start to earn in equity if you buy a home in early 2025.

For example, let’s say you go ahead and buy a $400, 000 h o m e * * t hi s J an u a ry . B a se d o n t h ee x p er t f orec a s t s f ro m t h eH PES, yo u co u l d g ainm ore t han * *$ 83,000 in household wealth over the next five years. That’s not a small number. If you keep on renting, you’re losing out on this equity gain.

And while today’s market has its fair share of challenges, this is why buying is going to be worth it in the long run. If you want to buy a home, don’t give up. There are creative ways we can make your purchase possible.

Options for Homebuyers in MA and CT

Explore More Affordable Areas:
- In Massachusetts, consider towns like Springfield or Worcester, where median home prices are lower than in Boston.
- In Connecticut, cities like New Britain or Waterbury offer more affordable options compared to Fairfield County.
Consider Condos or Townhomes:
- Condos in Boston or Hartford can be a great entry point into homeownership.
Check Out Down Payment Assistance Programs:
- Massachusetts offers programs like MassHousing and ONE Mortgage.
- Connecticut has options like CHFA (Connecticut Housing Finance Authority).

What Are You Missing Out On If You Wait?

If you’re waiting to perfectly time the market, here’s what you’re missing out on:

Rising Home Prices: Home values in Massachusetts and Connecticut are projected to continue growing, albeit at a slower pace.
Equity Growth: The sooner you buy, the sooner you start building equity.
Interest Rates: While rates fluctuate, locking in a rate now could save you money compared to waiting for potential future increases.

Bottom Line

If you’re torn between buying now or waiting, don’t forget that it’s time in the market, not timing the market, that truly matters. Connect with a local real estate agent to discuss your options and get the process started today.

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