According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. The report found rents rose by 8.1% from the same time last year. As it notes: “Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.” If you’re a renter concerned about rising prices, now may be the time to consider purchasing a home. Monthly Rents Are Higher Than Monthly Mortgage Payments When you weigh your options of whether to…

Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing crucial information about today’s housing market that you need to make your best decision. Before you decide whether you’re ready to buy a home, you should know how to answer these three questions. 1. What’s Going on with Home Prices? Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate. The graph below shows just how much…