Housing Markets Where Waiting to Buy Could Really Cost You

By Emily Heffter

Home values are increasing across the country and interest rates are likely to rise in the next year. That means buying a home is going to get more expensive. But how much more expensive? To find out, Zillow calculated the difference in monthly payments on the same house purchased today and a year from now. We assumed home values would increase and added 1 percentage point to today's mortgage rate.

In some markets, waiting a year won't cost you much. But in others -- like the nation's 10 hottest markets -- putting off a purchase for a year could cost you hundreds of dollars every month.

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