You’ve probably heard this before: “The best time to buy a home was yesterday... but the next best time? That’s today.
That’s because buying a home is really a long-term game. Prices usually go up over time, so even if you’re waiting for them to drop or for interest rates to get better, the truth is—it’s tough to perfectly time the market. It rarely works out the way you hope.
Here’s something a lot of buyers don’t always consider: the longer you wait, the more expensive buying a home could actually get. And you should really know why that matters.
Forecasts Say Prices Will Keep Climbing
Every quarter, more than 100 housing market pros share their insights in Fannie Mae’s Home Price Expectations Survey—and there’s one thing they consistently agree on: home prices are projected to keep climbing nationwide through at least 2029.
It’s true—the big, sharp jumps in home prices are behind us. But experts are still expecting prices to go up at a steady, healthy pace of about 3–4% per year moving forward. Of course, that can vary depending on the local market and the year, but the good news is, this kind of growth is actually more normal. It’s a positive sign for the market—and for buyers who’ve been waiting for things to level out (check out the graph below):
Even in areas where price growth is a bit slower—or where there might be a small dip in the short term—homeownership still tends to pay off in the long run. It’s all about playing the long game.
So, here’s the bottom line to keep in mind:
- Home prices are expected to be higher next year than they are right now. So the longer you wait, the more you’ll likely end up paying.
- Holding out for the perfect mortgage rate or hoping prices will drop might actually work against you. Even if rates come down a bit, rising home prices could still make waiting cost you more in the end.
- Buying now lets you start building equity right away. And when you’re in it for the long haul, that equity really starts to pay off over time.
What You’ll Miss Out On
Let’s break it down with some real numbers, because it adds up fast. According to those expert projections, if you bought a $400,000 home in 2025, it could grow in value by nearly $80,000 by 2030 (check out the graph below):
That’s a big boost to your future wealth—and it’s exactly why your friends and family who already bought are feeling pretty good about their decision. When it comes to real estate, time in the market really does make a difference.
So the real question isn’t “Should I wait?”—it’s “Can I afford to buy now?” Because if you can stretch a little or maybe go for something a bit smaller just to get started, it could totally be worth it in the long run.
Sure, today’s housing market has its challenges, but there are definitely ways to make it work. You can check out different neighborhoods, talk to your lender about other financing options, or look into down payment assistance programs.
The key is to make a move when it feels right for you, instead of holding out for a perfect situation that might never come.
Bottom Line
It’s all about time in the market, not trying to time the market.
If you’re torn between buying now or waiting, keep this in mind: real estate tends to reward those who jump in, not those who try to time it just right.
Curious about what’s going on with prices in our area? Whether you’re ready to buy now or just checking out your options, having a solid plan can really set you up for success down the road.
