Should I Buy a Home Right Now?

“Whether it’s best to buy right now or wait really does rely heavily on individual circumstances,” according to Adam Hamilton, co-founder of REI Hub, a rental property management software company.

Your decision to buy should be based on your financial readiness, long-term goals, and current market realities. To help you decide, we've gathered the latest data and asked real estate professionals across the country to weigh in.

What’s happening in the housing market?

According to the Realtor.com® April 2025 Monthly Housing Market Trends Report:

• Inventory continues to climb. The number of homes actively for sale rose 30.6% year over year, marking the 18th consecutive month of inventory growth. Inventory has now surpassed April 2020 levels, hitting a post-pandemic high.

• New listings are up. New listings increased by 9.2% compared with last year.

• Pending home sales slipped. Listings under contract dropped 3.2% annually, weighed down by a late-April uptick in mortgage rates.

• Homes are sitting longer. The median time on the market rose to 50 days—4 more than a year ago.

• Prices remain steady. The national median list price was $431,250, nearly unchanged from last year. But the median price per square foot rose by 1.1%, signaling modest appreciation.

• Price reductions are more common. Of the listings, 18% had price cuts, the highest April share since at least 2016.

Despite increased inventory, affordability remains a hurdle. The income required to afford the median-priced home rose by nearly $47,000 since 2019, now sitting at around $114,000 annually.

Mortgage rates remain a key factor

Mortgage rates play a major role in affordability. They determine not only your monthly payment but also how quickly you build equity over time. Even a small rate change can significantly affect your long-term costs.

“Buyers should weigh mortgage rates and the possibility of them going up or down with how much they can comfortably pay every month,” says Holly Schaefer, a real estate agent at Corcoran Icon Properties.

While rates hovering between 6% and 7% have given some buyers pause, real estate experts say this range is far from alarming.

“Today’s mortgage rates, while higher than what we got used to, are still sitting in a historically normal range,” explains Nicole Rueth, founder of The Rueth Team.

Home prices are still up

One reason today’s mortgage rates seem especially burdensome is that home prices remain elevated in most markets. Even a historically average interest rate can feel unaffordable when combined with high home prices. But while home prices are forecasted to steadily appreciate for decades to come, mortgage rates are expected to drop at some point. That’s why many buyers are choosing to act now.

“Many of my clients are opting to move forward with slightly higher rates, knowing they'll refinance when the opportunity arises,” says Sarah Strohschein, a real estate agent with Engel & Völkers Atlanta.

In other words, some buyers are choosing to accept today’s rates and lock in a home they love, with the plan to refinance once rates drop—because the longer they wait, the more they risk missing out on inventory or paying more down the line.

That’s especially true if mortgage rates fall and spark a wave of renewed competition.

“Some will say, 'I'm waiting for the rates to come down.’ In that case, the massive number of other sidelined prospective homebuyers nationwide will then also decide to jump into the market, creating more competition,” explains Blake Blahut, broker associate and Realtor® at Realty ONE Group Inspiration.

If rates fall meaningfully, demand could spike—and with it, bidding wars and higher sale prices. In this scenario, waiting could end up being more expensive in the long run, even if mortgage rates are lower.

Inventory is rising—but not for everyone

Inventory is growing in many parts of the country, particularly in the South and West. In fact, according to the May 2025 Housing Affordability and Supply Report by Realtor.com and the National Association of Realtors®, cities in states such as Texas, Florida, Tennessee, and Colorado now have more homes for sale than they did before the COVID-19 pandemic. That’s great news for buyers who’ve been dealing with tight inventory for years.

“Markets like this are golden opportunities for first-time homebuyers. With less competition, more time to make decisions, and greater ability to negotiate favorable terms,” says Rueth.

But this recovery is uneven—and affordability remains a significant barrier.

While the share of listings affordable to households earning $75,000 to $100,000 has ticked up slightly (from 20.8% in 2024 to 21.2% in 2025), it’s still far below the pre-pandemic norm of nearly 49%. To reach balance, the market would need 416,000 more homes priced at or below $255,000.

So while inventory is up, many of those homes are out of reach for middle- and lower-income buyers.

As Realtor.com Chief Economist Danielle Hale notes in the report, “More inventory typically means more options, and more options can help ease price pressures.” However, she also cautions that the type of inventory matters just as much as the volume.

In short, if you're shopping in a market where inventory has surpassed pre-pandemic levels—such as Denver, Austin, Dallas, or San Diego—you might have more buying power today than buyers in other regions. But if you're looking for an affordable entry point, especially under $300,000, the road might still be tough.

Who should consider buying right now?

If you’re financially stable with a steady income, a solid credit profile, and long-term plans to stay in your next home, experts say now could be a smart time to buy.

Despite higher mortgage rates, today’s housing market still offers advantages for certain buyers, like less competition and more room to negotiate than in recent years.

So if your finances are in good shape and you're ready to buy based on your life, not just market trends, this might be the right time to act.

Who might want to wait?

Buying a home is a big financial commitment—and for some, waiting might be the smarter move.

If your job situation is unstable, your income is uncertain, or broader economic factors are affecting your industry, it might be wise to hold off until conditions are more secure.

Uncertainty isn’t limited to employment. If you’re still working on building up savings, improving your credit, or aren’t sure you’re financially ready for the long-term responsibilities of homeownership, pressing pause could help you avoid overextending yourself.

In short, if you’re not fully ready—or your strategy depends on perfect timing—it might be better to wait until the market or your circumstances improve.

Focus on life, not just the market

Trying to time the housing market perfectly is a gamble, even for seasoned professionals. But buying a home isn’t just a financial decision. It’s a deeply personal one tied to your life circumstances, goals, and needs.

“The market matters, but your life matters more,” says Rueth.

Major life events like growing your family, relocating for a job, or wanting stability after years of renting can often be more relevant than fluctuating mortgage rates or national price trends.

“Rather than trying to time the market, I encourage clients to focus on life milestones,” adds Strohschein.

That’s because market timing is nearly impossible to perfect. Often, by the time conditions look ideal at the macro level, you’ve already missed the best window to act locally.

So instead of chasing a theoretical low point for home prices or mortgage rates, focus on what works for your lifestyle and long-term plans. The best time to buy isn’t just about what the market is doing—it’s about what you’re ready for.

Source: https://www.realtor.com/advice/buy/should-i-buy-a-home-right-now/