FYI: not now… & how the Census Bureau substantiates the claim.
People often ask if now is a good time to buy a home, but nobody ever asks whether or not its a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent.
The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:
As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.
One way to protect yourself from rising rents is to lock in your housing expense by buying a home.
If you are ready and willing to buy, lets connect to discuss your real estate goals and our current Seattle market.
A less-committed action?
Download your copy of the latest Metropolist Magazine. It’s a 12-page resource that shares recent data, trends and a few case study stories as well. Review either on your own or with your trusted Metropolist broker.