By the end of 2022, it was clear that things were slowly getting back to normal. Slowly but
surely, jobs, the economy, the markets, and supply chains seem to be leveling out and on the
up in some regards. So, with life slowly getting back to normal, some people are wondering, is
now a good time to buy?

Many people put off buying new houses and cars during the pandemic. With high-interest rates
and short supply, it didn’t make sense for most to splurge on a big purchase. Many people were
also dealing with unemployment, shortened hours, and more significant expenses all around. As
things start to level out, it could be time to start buying again. But making a big purchase is about what is right you and your financial situation.

Cars

Cars have been in short supply since the start of the pandemic. Supply chain issues and high-
interest rates have made prices soar for new and used cars alike. Supply is starting to exceed
demand, but things haven’t cooled off entirely yet. If you absolutely need a new car, start
looking now! It is better than it has been over the past few years. But if you can wait, things are
only improving and should be cheaper by the end of the year.

Houses

A house is a big commitment and often the biggest purchase of one’s life. So no matter the
economic situation, this is not to be taken lightly. Interest rates remain high, and the market is
constantly fluctuating. But ultimately, buying a house depends more on your financial situation
and life goals. If you are financially ready to own a home, start looking. Get your budget and
credit score in order, and you will figure out what works best within your buying market. If you
still need to figure these out, sit down to thoroughly budget your financial goals.

The Bottom Line

You should only consider making a large purchase if you are financially ready to. Not just if it is
a good time for deals. If you had been putting things off due to economic unrest through the
pandemic, it could be a good time to reassess and start planning again. On the other hand, if it
was just a thought for you, or you were nowhere near ready, now is definitely the time to start
planning and saving. Getting prepared sooner is always better than not at all. Talk with your
financial advisor today to see if this is the right step for you and your finances