Should I buy now… or wait?

Wait for mortgage rates to come down.

Wait for home prices to change.

Wait for more homes to hit the market.

Wait until 2027 and hope everything looks a little better.

I understand why buyers are asking. Buying a home is a big decision, and no one wants to look back six months from now and wonder if they should have waited.

But here’s something I remind my clients all the time:

You don’t need to perfectly time the housing market. You need to determine whether the timing makes sense for YOU.

Let’s Talk About Mortgage Rates

Mortgage rates continue to be one of the biggest factors affecting affordability.

As of September 17, 2026, the average 30-year fixed mortgage rate was 6.95%, according to Freddie Mac. Rates have also been moving around — they averaged 6.76% just one week earlier.

Could rates be lower in 2027? Absolutely.

Could they stay around current levels or move higher? That’s possible too.

The problem with waiting specifically for a certain rate is that none of us knows exactly where rates will be six months from now.

And there’s another piece buyers sometimes overlook: if rates fall enough to bring more buyers back into the market, competition could increase too.

So a lower interest rate doesn’t automatically mean you’ll get a better overall deal on a home.

What About Home Prices?

I hear this one a lot:

“Maybe I should wait for home prices to come down.”

That sounds reasonable, but housing markets are incredibly local. What’s happening nationally isn’t necessarily what’s happening in Minnesota — and even within Minnesota, the market can look very different from one city, neighborhood, or price range to another.

Instead of trying to predict whether all home prices will rise or fall, I’d rather look at the specific market where you want to live.

What are homes actually selling for?

How long are they sitting?

Are sellers making price reductions?

Are homes receiving multiple offers?

Are sellers contributing toward closing costs or other buyer expenses?

Those answers are far more useful than a national headline.

Fall Can Bring Different Opportunities for Buyers

Spring gets most of the attention in real estate, but fall can be a really interesting time to buy.

There may be fewer buyers actively searching compared with the busiest spring months. Some sellers who have been on the market for a while may also be more motivated to negotiate.

Depending on the home and the situation, that could create opportunities to negotiate things like:

• Purchase price

• Seller-paid closing costs

• Repairs

• Closing date

• Interest-rate buydowns or other financing-related concessions

That doesn’t mean every seller is going to negotiate. A great home that’s priced correctly can still attract plenty of attention.

But you may have opportunities this fall that look different from what you would encounter during a highly competitive spring market.

But Waiting Can Be the Right Decision Too

I’m a REALTOR®, but that doesn’t mean my answer is always, “You should buy a house right now.”

Sometimes waiting really does make more sense.

If buying would leave you financially stretched, you need more time to improve your credit, your employment situation is changing, you don’t have adequate savings beyond the down payment, or you simply aren’t sure where you want to be for the next several years, waiting may be the wiser choice.

Homeownership should support the life you’re building — not create financial stress just because someone told you it was a “good time to buy.”

Instead of Asking “Is Now a Good Time to Buy?” Ask These Questions

Can I comfortably afford the monthly payment at today’s rates?

Do I have money available for my down payment, closing costs and the expenses that come with owning a home?

Am I planning to stay in the home long enough for buying to make sense?

Is there enough inventory in my price range and preferred area to give me reasonable options?

And most importantly:

Would buying this home improve my life and move me toward my goals?

Those questions matter far more than trying to predict exactly what the market will do next.

There Is No Perfect Market

I’ve been in sales and marketing for more than 30 years, and one thing I’ve learned is that there is rarely a moment when every piece falls perfectly into place.

When rates are lower, competition may be stronger.

When there’s less competition, borrowing may cost more.

When inventory increases, prices and seller motivation can vary dramatically by neighborhood and price point.

There will almost always be a reason to wait.

The goal isn’t to find the perfect market.

It’s to make a smart, informed decision based on your finances, your goals, your timeline and the opportunities available to you today.

The Bottom Line

Don’t put your life on hold trying to perfectly time the housing market.

Buying this fall may make sense for you. Waiting until 2027 may make sense too. The important thing is knowing why you’re making that decision.

Instead of asking, “What will the market do next?” start with, “What makes sense for me right now?”

That’s where having the right information — and the right people in your corner — can make all the difference.

If you’re considering a move in Minnesota, let’s look at your situation together. We can talk through your budget, the communities you’re considering, what’s currently available, and what buying now versus waiting could realistically look like.

Sometimes the right move is buying now. Sometimes it’s preparing now and buying later. My job is to help you know the difference.

No pressure. No rushing your timeline. Just honest guidance so you can make your next move with confidence. #mnrealtor #minnesotarealtor #mnrealty #mnrealestate #ChrissyJHomes

Chrissy J Homes Team