Is Now a Good Time to Buy a Home? Here’s What the Numbers Say

If you’ve been thinking about buying a home but keep telling yourself, “I’m going to wait until the market gets better,” you’re certainly not alone.

Higher mortgage rates and home prices have caused many potential buyers to sit on the sidelines. But here’s the important question:

What exactly are you waiting for?

There may never be a “perfect” time to buy a home. What we do have right now is a market that is giving buyers something they haven’t had much of in recent years: more choices, more negotiating power, and more time to make a decision.

According to the National Association of REALTORS®, there were approximately 1.62 million existing homes for sale nationwide in August 2026, an increase of 5.9% from a year earlier. That represents about a 4.9-month supply of homes — the highest level in more than a decade.

More inventory can mean fewer bidding wars, more opportunities to negotiate and a better chance of finding a home that actually fits your needs.

“But Aren’t Interest Rates Too High?”

This is probably the objection I hear most often.

As of September 22, 2026, Freddie Mac reported that the average 30-year fixed mortgage rate was approximately 7.73%.

Yes, that is considerably higher than the unusually low mortgage rates buyers enjoyed several years ago. But waiting for rates to return to 3% could mean waiting for something that may not happen anytime soon.

There is another factor to consider: If mortgage rates eventually fall substantially, more buyers may return to the market at the same time.

That could mean increased competition for desirable homes.

A buyer purchasing today may also have the possibility of refinancing later if rates decline sufficiently, although refinancing is never guaranteed and comes with costs.

The rebuttal:

“You can potentially refinance a mortgage rate later. You can’t go back and buy yesterday’s house at yesterday’s price.”

“I’m Waiting for Home Prices to Crash.”

That’s another common concern.

The numbers don’t currently show a nationwide collapse in home values.

The median existing-home price in August 2026 was approximately $429,100 — 1.6% higher than a year earlier.

Even more interesting, during the second quarter of 2026, approximately 80% of U.S. metropolitan areas recorded year-over-year home-price increases.

Of course, real estate is local. Some markets and neighborhoods are appreciating while others are flat or declining. That’s exactly why buyers should look at the numbers for the specific area in which they want to purchase rather than relying solely on national headlines.

The rebuttal:

“Waiting for lower prices doesn’t guarantee you’ll get them. If the right home fits your budget today, waiting has a cost too.”

“Wouldn’t I Be Better Off Renting?”

Sometimes renting absolutely makes sense, particularly if you expect to move soon or aren't financially prepared for the costs of homeownership.

But if you're planning to stay in the same area for several years, purchasing a home gives you something rent doesn't: the opportunity to build equity.

Each mortgage payment can contribute toward ownership of an asset. Homeowners can also potentially benefit from long-term appreciation.

Consider a simple hypothetical example.

A $450,000 home appreciating at an average of 3% annually would be worth approximately:

$463,500 after one year
$521,700 after five years
$604,700 after ten years

That is only an illustration — home values can rise or fall, and no appreciation rate is guaranteed — but it demonstrates why buying a home is often viewed as a long-term decision rather than a short-term trade.

The rebuttal:

“Rent pays for a place to live. A mortgage can provide a place to live while also giving you the opportunity to build equity over time.”

Buyers Have Something They Haven’t Had in Years: Leverage

One of the biggest advantages in today's market isn't necessarily price or interest rates.

It's negotiating power.

Homes nationally spent a median of 31 days on the market in August, while the supply of available homes increased. A slower market can create opportunities for buyers to negotiate things that were much harder to obtain during the extremely competitive housing markets of recent years.

Depending on the property and seller, buyers may be able to negotiate:

• Seller-paid closing costs
  
  
• Interest-rate buydowns
  
  
• Repair credits
  
  
• Home warranties
  
  
• Price reductions
  
  
• More favorable inspection or closing terms
  
  

Not every seller will agree to these concessions, but having fewer buyers competing for a property can put purchasers in a stronger negotiating position.

“I’m Just Going to Wait Until Rates Drop.”

Here's the catch: you probably won't be the only person waiting.

If mortgage rates fall enough to significantly improve affordability, buyers who have spent the last several years sitting on the sidelines may decide to enter the market.

More buyers competing for the same homes can reduce negotiating power and put upward pressure on prices.

That's why I encourage buyers to think beyond one number.

Don't just ask, “What's the interest rate?”

Ask:

“What is the total opportunity available to me right now?”

A higher rate combined with a negotiated purchase price, seller credit or rate buydown may sometimes make more sense than waiting for a lower rate in a much more competitive market.

So, Is Now a Good Time to Buy?

For the right buyer, it certainly can be.

If you have stable income, plan to remain in the home for several years, have adequate savings and can comfortably afford the payment, today's market offers opportunities that buyers didn't necessarily have when homes were receiving multiple offers within days.

The goal shouldn't be to perfectly time the housing market.

The goal should be to buy the right home, at a price and monthly payment you can comfortably afford, under terms that make sense for you.

And right now, increased inventory and reduced competition are giving buyers more opportunities to do exactly that.

If you've been sitting on the sidelines wondering whether it's finally time to make a move, let's look at the numbers together. I can help you compare available homes, estimated monthly payments and potential negotiating opportunities so you can decide whether buying now makes sense for you.

The best time to buy isn't determined by a headline. It's when the home, the numbers and your personal circumstances line up.