Nobody knows what interest rates are going to do...not
even the Fed.
My question for buyers right now is, "Why does it matter?"
What is the worse that could happen?
You buy now and rates go up? Great! You locked in a lower rate now.
You buy now and rates come down? Great! You can opt to refinance at a lower rate if you want.
You buy now and prices go up? Great! Your property is worth more. Yippie!!
You buy now and prices go down? Great! You bought to live in or hold the property for three to five years (or more), so it doesn't matter. You can now invest in another property at a cheaper price.
My point is...none of this matters unless your strategy is to flip the property in the next 6-12 months which is always risky in any market.
Trying to time the market never works and is a losing battle.
And, right now as the market has slowed 20%, sellers are much more negotiable then last year and there's more inventory to chose from.
So, Let's find a motivated seller and get a great deal and Stop paying rent.
I love answering your real estate questions