Buying a home in 2025 is tough due to high prices and mortgage rates, but buyers have more choices and negotiating power. Experts say it may not be the best financial move for most, though those who need to buy can still find smart ways to navigate the market.
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00:00I've spent weeks talking to real estate agents and economists to get a sense of whether it's a good
00:06time to buy a house right now. The general consensus is that it's a really tough time
00:10for buyers. The main challenge is really just affordability. Typical home price has risen more
00:15than 40% since the start of the pandemic. You've also seen mortgage rates recently spike. Then you
00:21add in the economic uncertainty with tariffs and people are worried about their jobs or they're
00:26worried about their stock portfolio. There are also more homes on the market, which means sellers have
00:31to try a lot harder to get their home sold. And I think what we're seeing now is sellers are being
00:36more realistic about what it's going to take to get their house sold. So they're more willing to
00:41cut prices if a home is sitting on the market too long. They're more willing to cut a deal with buyers.
00:46And there are also these assumable mortgages because it basically allows you to get one of those bygone
00:51three percent mortgage rates by assuming the loan from the seller who sells you the home. While the
00:58experts that I talked to acknowledge that it's a really tough time for buyers and that you might
01:02want to wait if you're feeling uncertain in any way, there are still ways for buyers to come out
01:06ahead. You can negotiate on everything, whether that's the commission to your agent or just talking
01:10to the seller to get a lower price. I think it all comes down to just taking your time today and
01:14really making sure that you are comfortable with this decision, that you can afford it, and that you're
01:18getting the best deal possible.