Should I wait to buy until the market calms down? It’s a common question in this market.

Waiting would mean that you’d be more likely to keep some of your buyer protections in place, like the inspection & financing contingencies. 

But, waiting also means that interest rates and home prices are going to be higher. The higher prices that buyers are paying today are going to become tomorrow’s comps/market values – in addition to the normal appreciation amount and interest rate hikes. 

Either way, prices aren’t going to lower at any point, so ultimately it comes down to your comfort level. Are you okay taking an upfront risk of waiving contingencies to get your foot in the door now, or are you okay paying a higher price tomorrow to have more protections in place during the contract period?

If you’d like to talk through your options, send me a message! palmer@palmerharned.com

This content is not the product of the National Association of REALTORSĀ®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.