What This Means for You

Right now, you have the opportunity to get ahead of the curve. Today’s market is a buyer’s sweet spot, and here’s why: many potential buyers are holding back, which means there’s less competition for homes. That gives you an edge in your search.

Affordability has also improved significantly. With recent declines in mortgage rates, homeownership is becoming more attainable. As Mike Simonsen, Founder of Altos Research, points out:

“Mortgage payments on the typical-priced home are 7% lower than last year and 13% lower than the peak in May 2024.”

While the number of homes for sale is still relatively low, it’s higher than it has been in years. Ralph McLaughlin, Senior Economist at Realtor.com, notes:

“The number of homes actively for sale continues to be elevated compared to last year, growing by 35.8%—marking the 10th consecutive month of growth—and now sits at its highest level since May 2020.”

This means you now have more options than you’ve had in quite some time.

With fewer buyers, improved affordability, and a greater selection of homes, you have the chance to find the perfect one before competition picks up.

Why Waiting Could Cost You

If you’re holding out for the ideal moment to buy, keep in mind that trying to time the market can be risky. The longer you wait, the greater the chance that conditions could change—not necessarily in your favor. Greg McBride, Chief Financial Analyst at Bankrate, cautions:

“It’s one of those things where you should be careful what you wish for. A further drop in mortgage rates could trigger a surge in demand, making it harder to actually buy a house.”

Bottom Line

Don’t wait until you’re facing more competition and higher prices—today’s market gives you the perfect opportunity to buy a home. Let’s connect to make sure you’re making the most of it.