By Mike Lentz | The Mike Lentz Team - Keller Williams Realty
For buyers who can afford the payment and plan to stay, the record says yes. 74% of recent buyers would buy their home again. FHFA data shows prices in Burlington, Camden, and Gloucester counties rose 54% over the past five years, ahead of New Jersey (50.5%) and the nation (33.4%). That appreciation becomes equity for your next move.
With everything going on, it’s understandable if you’re wondering whether you’d regret buying right now. Is buying a home worth it with costs where they are? Most people who already bought say yes.
Everyday expenses cost more. Mortgage rates are higher than you’d like. When the economy feels uncertain, taking on a mortgage can feel like a much bigger leap. But here’s some perspective that may help.
Most People Who Already Bought Would Do It Again
According to a recent survey from NerdWallet, the vast majority of recent buyers (74%) were glad they bought their current home. Only 3% regret it:
And here’s a big reason why so many people feel it was worth it, even now.
Homeownership Is a Long-Term Play
When you’re deciding whether to buy, it’s easy to focus on what’s happening right now. What’s today’s mortgage rate? Are prices going up or down? Those things matter. But don’t get so caught up in buying in the perfect moment that you miss the bigger picture.
A home isn’t typically something you buy for just a year or two. It’s a longer play. When you zoom out, it all starts to fall into perspective. Especially if you look at home prices and equity.
According to data from the Federal Housing Finance Agency (FHFA), home prices nationally have risen 33.4% over just the past five years:
And that appreciation has helped current homeowners build some serious wealth. Research from Bankrate shows homeowners gained an average of nearly $150,000 in wealth over the past five years as equity steadily rose across 90% of major metro areas.
That’s one of the biggest benefits of homeownership. As you pay down your mortgage and your home appreciates over time, your ownership stake grows. Your equity grows.
The Numbers Get Even More Dramatic Over Decades
The five-year numbers are impressive. But the numbers get even more dramatic when you look at decades instead of individual market cycles.
FHFA data shows home prices nationally have risen 336% since 1991. That is more than four times what homes cost in 1991:
That doesn’t mean prices go up every single year. And it doesn’t mean buying is automatically the right decision for everyone today. You should only buy when the numbers work for you and the payment fits your budget.
What it does show is why trying to perfectly time the market can make you miss the bigger picture. If you’re trying to time everything just right, you may wait forever while prices continue climbing.
Is Buying a Home Worth It in South Jersey? What the Local Numbers Show
The first map puts New Jersey at 50.5% over five years, well ahead of the 33.4% national figure. Our part of the state did better. FHFA tracks Burlington, Camden, and Gloucester counties together as the Camden metropolitan division, using the same index behind both maps. Prices there rose 54.2% from the second quarter of 2021 to the second quarter of 2026.
| Area | 5 years (Q2 2021 to Q2 2026) | Since Q1 1991 |
|---|---|---|
| Burlington, Camden, and Gloucester counties | 54.2% | 279% |
| New Jersey | 50.5% | 343% |
| United States | 33.4% | 336% |
Salem and Cumberland counties are too small for that quarterly index. FHFA covers them in its annual county series, which runs through 2025 and uses a broader set of transactions, so its numbers run higher and should not be compared directly to the table. On that measure, from 2020 to 2025, all five of our counties rank in New Jersey’s top eight of 21 for appreciation: Camden 74%, Gloucester 73%, Cumberland 73%, Burlington 70%, and Salem 69%. Only Atlantic and Cape May rose faster.
The longer view runs the other way. Since 1991, our area has trailed both the state and the country: 279% in the Camden metropolitan division against 343% statewide. On the annual county series, Salem County has the smallest gain in New Jersey since 1991, and even it has nearly tripled. Most of South Jersey’s catch-up came in the last five years.
For a buyer, that cuts both ways. Homes here have built real equity over three decades, and the recent run shows how quickly it can add up. No one should count on the next five years repeating the last five, which is one more reason to buy only when the payment works on its own. Source: FHFA House Price Index, purchase-only seasonally adjusted (quarterly) and all-transactions county (annual).
How Equity Becomes a Financial Resource
Over time, homeowners gain a lot of equity. And that equity can eventually become a powerful financial resource. As Freddie Mac explains:
“Your home’s equity is part of your total wealth as a homeowner. If you decide to sell your home, the equity you have built over time will come back to you in the sale…
If it’s time to upsize or downsize, you can use that cash for the down payment on your next home.”
Basically, if you can afford to do it, buying a home now could set you up for future moves. Whether you need more space in Camden County or want to downsize in Gloucester County, that equity gives you options.
Is Buying a Home Worth It If Prices Dip?
And just in case you’re someone who’s worried about what happens if prices fall after you buy, remember this point. You’re not buying for one year.
Prices can dip. They have before. But historically, they’ve risen far more over the long run. The longer you own your home, the more time you have to ride out those ups and downs. And the more time you have to keep building equity.
That’s why the long-term numbers matter more than any single year. Nationally, prices are up 33% over five years and 336% over 35.
When Does Buying Make Sense?
None of this means you should rush into buying if the numbers don’t work. You need to be financially ready. Your budget needs to support the payment comfortably. And you need to plan on staying put long enough for appreciation to work in your favor.
If those pieces line up, buying a home is worth it for most people over time. Don’t let today’s uncertainty make you lose sight of what homeownership can do over time. Most homeowners say they’d make the same choice again. Decades of home price growth help explain why.
If you want to talk through what this means for your situation, schedule a quick call and we’ll walk through it together.
For the full picture in your county, see our county market reports for Camden, Burlington, Gloucester, Salem, and Cumberland counties.
