Thinking about buying a house? It's a big decision! Right now, the housing market is a bit tricky. Interest rates on home loans are staying around 6% to 7%, which is pretty high.
- There aren't many houses for sale.
- Builders are worried about higher costs.
- House prices are still going up a little.
| Thing | Number/Fact |
|---|---|
| Mortgage Rate Range | 6% - 7% |
| Housing Deficit | 3.7 million homes |
| New Homes Built (2025 estimate) | 1.1 million |
| Home Price Increase (Nov 2024) | 3.8% |
It's important to check your finances before buying. Do you have enough savings for a down payment? What's your credit score? A good credit score helps you get a better loan.
