Should You Buy a Home Right Now? Experts Say Prices Are Only Going Up. You’ve probably heard this before: “The best time to buy a home was yesterday. The second-best time is today.”

And there’s a reason for that—home values keep climbing. With mortgage rates still holding strong and prices on the rise, you might be waiting for the perfect moment when rates drop or prices fall. But here’s the deal: waiting could cost you more in the long run.

Home Prices Are Still Climbing—Just at a Steady Pace

If you’re hoping for a massive price drop, I hate to break it to you, but that’s probably not happening. According to Fannie Mae’s Home Price Expectations Survey, real estate experts predict home prices will continue rising through at least 2029.

Now, we’re not seeing the jaw-dropping price surges of the past few years, but steady growth is still expected at around 3-4% per year. That’s actually a good thing! A more predictable market is great news for buyers—it means less volatility and a solid long-term investment.

Why Waiting Might Cost You More

I get it—no one wants to buy at the wrong time. But if you’re holding out for lower prices or a better mortgage rate, here’s what you need to consider:

• Prices are still rising. The home you’re eyeing today could be way more expensive a year from now.
• Timing the market is a gamble. Even if rates dip slightly, rising home prices could cancel out any savings you’d gain from a lower rate.
• The sooner you buy, the sooner you build equity. Home values are increasing, meaning your investment starts paying off immediately.

Let’s put some numbers to it. Say you buy a $400,000 home today. Based on forecasted appreciation, that home could be worth $83,000+ more in just five years. That’s money in your pocket, instead of sitting on the sidelines wishing you had bought sooner.

Why Home Prices Aren’t Dropping: Supply & Demand 101

Yes, there are more homes for sale now than last year, but it’s still not enough to meet buyer demand. And as long as there are more buyers than homes, prices will keep climbing.

Redfin sums it up well:

“Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand.”

While every market is different, the reality is a nationwide price drop just isn’t in the cards. Some areas may level off a bit, but most markets will keep seeing gradual price increases.

Bottom Line: Time in the Market Beats Timing the Market

If you’re debating whether to buy now or wait, remember this—real estate rewards action, not hesitation.

Yes, today’s market comes with challenges, but there are ways to make it work:

• Explore different neighborhoods where prices may be more affordable.
• Consider condos or townhomes instead of single-family homes.
• Talk to your lender about creative financing options.
• Look into down payment assistance programs to make your purchase easier.

The key is making a move when it makes sense for you, rather than waiting for the “perfect” market—because chances are, that perfect moment will never come.

Want to know what’s happening with home prices in your area? Whether you’re ready to buy now or just exploring options, let’s connect and make a plan that sets you up for success!