If you’ve been watching the Southwest Florida real estate market lately, you might be wondering whether now is really the right time to buy—or if it’s better to wait. With so much chatter about insurance costs, mortgage rates, and the economy, it’s understandable that buyers might feel cautious. But according to the latest data from Fannie Mae’s Home Price Expectations Survey, the experts are crystal clear on one thing: home prices are projected to keep rising through 2029.
What the Experts Are Predicting
Fannie Mae surveyed a wide range of housing market experts, economists, and analysts, and here’s what they found:
- Optimists expect home prices to rise 25.8% through 2029.
- Pessimists predict an increase of 4.9%.
- Across all forecasts combined, prices are expected to rise by an average of 15.3%.
A graphic accompanying this post illustrates these projections—but even without it, the message is clear: most experts agree that values will continue trending upward. Historically, real estate has appreciated an average of 4–5% per year, and despite short-term market fluctuations, that long-term trend remains intact.
Why Some Buyers Are Hesitant
It’s true—price growth has moderated in many markets, including here in SWFL, and in some cases, values have even come down slightly. Add in high insurance premiums, elevated mortgage rates, and general economic uncertainty, and you’ve got a recipe for hesitation.
But here’s the perspective that often gets overlooked:
- Today’s mortgage rates, while higher than recent years, are still below the historical average of 7.71% since 1971.
- Those ultra-low 2–5% rates we saw after COVID? They were a temporary anomaly, not the norm.
- For those worried about job security, renting might make sense temporarily—but for many, waiting to buy can carry a much higher long-term cost.
Why Waiting to Buy Could Cost You
Every year you wait to buy is another year of lost equity and lost opportunity.
If you’re renting, you’re not avoiding a mortgage—you’re simply paying your landlord’s mortgage instead. Each payment covers their taxes, insurance, and equity buildup, while you receive none of the benefits. Think of it as making a 100% interest payment every month—none of what you pay comes back to you.
The difference this makes over time is staggering. According to the Federal Reserve, the average net worth of an American homeowner is about $430,000, while the average renter has a net worth of just $10,000. That means the typical homeowner is 43 times wealthier than the average renter. Waiting even a few years to start building that equity can have lifelong financial consequences.
The Bottom Line
Timing the market perfectly is nearly impossible—but positioning yourself strategically is not. Partnering with an experienced, full-time agent who understands both the numbers and the nuances of the SWFL market can make all the difference.
At John R. Wood Properties | Christie’s International Real Estate, our marketing platform, global reach, and reputation for excellence ensure that your home receives the exposure and attention it deserves.
If you’re considering buying or selling real estate in Southwest Florida, I’d be delighted to have a conversation about your goals and how we can achieve them together.
๐ Call or text me at 941-600-2829 or โ๏ธ email me at RMorris@JohnRWood.com — I’m always happy to help.
Roger Morris, Broker Associate
John R. Wood Properties | Christie’s International Real Estate
๐ 941-600-2829 | โ๏ธ RMorris@JohnRWood.com
Roger Morris is a Broker Associate with John R. Wood Properties in Cape Coral, Florida. A REALTOR® since 1996, Roger specializes in luxury residential real estate throughout Southwest Florida and brings decades of experience in sales leadership, agent coaching, and market strategy. He can be reached at (941) 600-2829 or RMorris@JohnRWood.com
