Higher prices and mortgage rates mean buyers should know their budget, plan for added costs and weigh affordability before purchasing.
Buying a home is one of the most significant financial commitments a person can make. Individuals may wonder when is the right time to jump into the real estate market. The answer may boil down to affordability.
The housing market is continually evolving. Buying a home now is a little bit different than it was even a few years ago, as inventory is starting to recover from a lengthy period with limited offerings, according to Realtor.com. But even though inventory may have increased, home prices have not come down. The median home price now sits at around $410,000 in the United States and approximately $676,335 in Canada, and interest rates hover around 6% for a 30-year fixed rate.
Before it's time to sign a contract and get the keys, potential buyers can follow this guide as they navigate buying a home for the first time.
Read more: https://www.floridarealtors.org/news-media/news-articles/2026/04/basics-buying-home-today