Buy/Wait

Buy Now or Wait? The Answer Might Surprise You

At some point, you've probably heard the saying: 'Yesterday was the best time to buy a home, but the next best time is today.'
That’s because homeownership is a long-term investment, and home prices tend to rise over time. So, while you might be waiting for prices to drop or rates to improve, remember: trying to time the market rarely works in your favor.
Here’s something most buyers don’t consider: the longer you wait, the more buying a home could cost you. And you deserve to know why.

Forecasts Predict Home Prices Will Continue to Rise

Every quarter, over 100 housing market experts contribute to Fannie Mae’s Home Price Expectations Survey, and one thing is clear: they all agree that home prices are expected to keep rising through at least 2029.
While the sharp price spikes we’ve seen in recent years are behind us, experts project a steady, healthy, and sustainable increase of 3-4% annually. Though these increases may vary by local market, the good news is that this is a much more typical pace – a reassuring sign for the housing market and prospective buyers alike (see graph below):

Even in markets with slower price growth or minor short-term declines, homeownership still wins in the long run.
Here’s what you need to keep in mind:

Home prices will be higher next year than they are this year. The longer you wait, the more you’ll pay.
Hoping for the perfect mortgage rate or a price drop could backfire. Even if rates dip slightly, home price growth could still make waiting more expensive in the long run.
Buying now means building equity sooner. The longer you wait to buy, the longer it takes to start building that equity — and it pays off over time.

What You Could Miss Out On
Let’s break it down with some real numbers, because the difference adds up fast. According to expert projections, for example, if you purchase a home of $400,000 in 2025, it could gain nearly $80,000 in value by 2030 (see graph below).

That’s a serious boost to your future wealth – and it's exactly why your friends and family who’ve already bought a home are so glad they did. Time in the market really matters.
So, the real question isn’t should I wait? It’s can I afford to buy now? If you're able to stretch a little or are open to buying something smaller to get your foot in the door, this is why it’ll be worth it.
Yes, today’s housing market has its challenges, but there are plenty of ways to make it work. You can explore different neighborhoods, alternative financing, tap into down payment assistance programs...
The key is making a move when it makes sense for you, not waiting for a “perfect” scenario that may never come.

Bottom Line: Time in the Market Beats Timing the Market
If you're wondering whether to buy now or wait, here's the truth: real estate rewards those who get in the market, not those who try to time it perfectly.
Curious about what's happening with prices in our local area? Whether you're ready to buy or just exploring your options, having a solid plan in place can set you up for long-term success.

Let’s talk — reach out today!