### **Is Now a Good Time to Buy a Home? Experts Weigh In Amid Market Uncertainty**
Even housing economists are struggling to determine whether it’s a smart time to buy a home, as rising mortgage rates, economic turbulence, and shifting home prices create a complex landscape. Chen Zhao, Redfin’s head of economic research, admits the decision is far from straightforward. While mortgage rates dipped briefly last year, they’ve since climbed back to around **6.8%**, making homeownership more expensive. Meanwhile, home prices remain high—up **43%** since the pandemic—forcing many buyers to stretch their budgets. Experts suggest that while affordability is a challenge, buyers who must move now can still find opportunities by negotiating prices, seeking concessions, and taking their time in a market where inventory is slowly improving.
### **Affordability Crisis: High Prices and Rising Mortgage Rates**
The current housing market presents significant financial hurdles. The **median home price** sits at **$360,000**, requiring buyers to spend over **35% of their income** on mortgage payments—well above the recommended affordability threshold. Nick Gerli of Reventure App notes that mortgage payments now consume **39% of income**, matching levels last seen during the **2006 housing bubble peak**. With **3% mortgage rates** a thing of the past, many buyers are priced out or forced to stretch their budgets dangerously thin. Meanwhile, renting has become a more attractive option for some, as apartment vacancies rise and landlords offer incentives like **free rent months**, making flexibility and lower monthly costs appealing amid economic uncertainty.
### **Buyer Strategies: Patience and Negotiation Can Pay Off**
Despite the challenges, buyers who **must move now** can still find advantages. **Inventory is up 31% year-over-year**, and nearly **18% of sellers are cutting prices**, the highest rate since 2016. Buyers in **Sunbelt states** (like Texas and Florida) have more options, while those in the **Northeast and Midwest** face tighter competition. Experts recommend **shopping around for mortgage rates**, considering **assumable loans** (to lock in lower rates), and negotiating **lower agent commissions** to save thousands. The key takeaway? **Wait if you can**, but if you must buy, take your time, negotiate aggressively, and ensure you plan to stay long enough to ride out market fluctuations.
### **Final Verdict: Proceed with Caution in an Unpredictable Market**
With **recession fears**, **tariff impacts**, and **volatile mortgage rates**, uncertainty looms over the housing market. While some buyers may benefit from **price cuts and increased inventory**, others may find renting a smarter short-term choice. The decision ultimately depends on **financial stability, local market conditions, and long-term plans**. As Zhao puts it, **”We’re operating in a different world right now”**—one where careful research and flexibility are more crucial than ever.
Ez a cikk a Neural News AI (V1) verziójával készült.
Forrás: https://www.businessinsider.com/is-now-good-time-to-buy-home-real-estate-agents-2025-5.