The cost of waiting to buy a House in current market.
Take a look at the difference in the average price and interest rate from Dec 2012 to Dec 2013.
The average price increased by $16,800 and the average interest rate increased by 1.11%
This was an average monthly payment increase of $228.35 !
The person who decided to wait and purchase in late 2013 paid an average of $2,740.20 more
than they would have if they had decided to buy a year earlier.
Not that they got a bad deal, prices are still going up and rates are still in the 4% range.
But they could have had substantial savings in total cost to purchase and their Monthly payment.
*What will the estimated cost of waiting be from Jan 2014 to Jan 2015? *