One of the biggest myths I hear from buyers in Hickory is: “I can’t buy a house until I have 20% down.”
Here’s the truth:
Waiting to save up 20% can keep you out of the market unnecessarily. With interest rates and housing prices moving, getting in sooner could save you money long-term.
Median sale price: $347,000, down 1.4% year-over-year. Redfin
Homes sold: Up 41.8%, with 78 sold in June. Redfin
Days on market: Averaging 60 days, up from 51 last year. Redfin
Rocket report: Median sold price of $304,250 in July, marking 3.4% growth over the past year. Rocket
These stats show a market that’s active but cooling: more transactions happening, but buyers taking their time, and pricing remaining under pressure.
Question for readers: — What concerns are you most facing as a seller in Hickory right now? Is it pricing, preparing your home, or understanding market timing? — If your listing sold faster than average—or took much longer—what worked (or didn't)?
Tell us in the comments! Your experiences help your neighbors, enrich our insights, and build a stronger local seller community.
Ever heard the word “contingency” and wondered what it really means? ?? It’s just a fancy way of saying “this deal depends on X, Y, or Z happening first.” Whether it’s financing, inspections, or another key detail, contingencies are there to protect you. I’ll walk you through every step so nothing catches you by surprise! Ready to get started?
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If you have a 3% mortgage rate, you’re probably pretty hesitant to let that go. And even if you’ve toyed with the idea of moving, this nagging thought may be holding you back: “why would I give that up?”
But when you ask that question, you may be putting your needs on the back burner without realizing it. Most people don’t move because of their mortgage rate. They move because they want or need to. So, let’s flip the script and ask this instead:
What are the chances you’ll still be in your current house 5 years from now?
Think about your life for a moment. Picture what the next few years will hold. Are you planning on growing your family? Do you have adult children about to move out? Is retirement on the horizon? Are you already bursting at the seams?
If nothing’s going to change, and you love where you are, staying put might make perfect sense. But if there’s even a slight chance a move is coming, even if it’s not immediate, it’s worth thinking about your timeline.
Because even a year or two can make a big difference in what your next home might cost you.
Each quarter, Fannie Mae asks more than 100 housing market experts to weigh in on where they project home prices are headed. And the consensus is clear. Home prices are expected to rise through at least 2029 (see graph below):
While those projections aren’t calling for big increases each year, it's still an increase. And sure, some markets may see flatter prices or slower growth, or even slight dips in the short term. But look further out. In the long run, prices almost always rise. And over the next 5 years, the anticipated increase – however slight – will add up fast.
Here’s an example. Let's say you'll be looking to buy a roughly $400,000 house when you move. If you wait and move 5 years from now, based on these expert projections, it could cost nearly $80,000 more than it would now (see graph below):
That means the longer you wait, the more your future home will cost you.
If you know a move is likely in your future, it may make sense to really think about your timeline. You certainly don't have to move now. But financially, it may still be worth having a conversation about your options before prices inch higher. Because while rates are expected to come down, it’s not by much. And if you’re holding out in hopes we’ll see the return of 3% rates, experts agree it’s just not in the cards (see graph below):
So, the question really isn’t: “why would I move?” It’s: “when should I?” – because when you see the real numbers, waiting may not be the savings strategy you thought it was. And that’s the best conversation you can have with your trusted agent right now.
Keeping that low mortgage rate is smart – until it starts holding you back.
If a move is likely on the horizon for you, even if it’s a few years down the line, it’s worth thinking through the numbers now, so you can plan ahead.
What other price point do you want to see these numbers for? Let’s have that conversation, so I can show you how the math adds up. That way, you can make an informed decision about your timeline.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.