Is Now a Good Time to Buy?
- Tommy Weaver
- Sep 24
- 3 min read
By: Tommy Weaver 9/24/25
Ah, the million-dollar question. Literally. (Well, maybe not a million anymore, but you get it.)
This is hands down the most common question I get, usually followed by "but SERIOUSLY, should I wait?" Look, I get it. Nobody wants to be that person who bought right before everything went sideways. But here's the thing: there's no crystal ball in real estate, and anyone who claims to have one is probably trying to sell you something.
So let's dig into the actual numbers instead of relying on your cousin's hot take from Facebook.
The Interest Rate Reality Check
Right now as I sit writing this, we're sitting at about 6.165% for a 30-year fixed mortgage. I know, I know—it feels painful compared to those unicorn 2-3% rates from 2020-2021. (RIP to those days. We hardly knew ye.)
But before you start mourning, let's get some perspective: over the past 50 years, mortgage rates have averaged closer to 7-8%. So while today's rates aren't exactly cheap, they're not historically bonkers either. Your parents probably bought their first house at 12% and somehow survived to tell the tale.
The real question isn't whether rates are "good"—it's whether you can comfortably afford the payment. Because here's the plot twist: if rates drop significantly, every other buyer will crawl out of the woodwork, competition will go nuclear, and prices will shoot up faster than your stress levels. Fun times.
Inventory: Still Playing Hard to Get
Housing inventory is still below pre-pandemic levels, which is real estate speak for "there still aren't enough houses to go around." When supply is tight, prices don't exactly roll over and play dead.
The good news? The days of bidding wars that made grown adults cry are mostly behind us. Prices aren't doing that crazy double-digit growth thing anymore—they're just... existing. Steadily. Like that reliable friend who shows up on time and brings good snacks.
The Math Nobody Wants to Do (But Should)
Let's talk numbers because I love ruining perfectly good daydreams with facts.
Say you're looking at a $400,000 home:
At today's 6.165% rate = about $2,438/month (assuming 20% down)
Now imagine rates drop to 5.5%, but prices climb 5% because everyone and their dog decides to buy. That same home now costs $420,000, and your payment is around $2,385/month.
Congratulations! You saved a whopping $53 per month... but paid $20,000 more for the house. And you probably thought about writing a love letter to the sellers and promised to name your firstborn after their cat.
Math is fun, right?
Your Timeline Trumps Everything
Here's where we get real for a minute. Forget trying to time the market—that's like trying to predict which Netflix show will actually get renewed.
The real question: How long are you planning to stick around?
5-7 years or more? Short-term rate drama becomes background noise. You'll likely see appreciation over time, and you can always refinance if rates improve. (Spoiler: they always do... eventually.)
Just a couple years? Buying might not make sense. Between agent fees, closing costs, and the general expense of moving, you'd need some serious appreciation just to break even.
The Bottom Line (Finally)
Is now a good time to buy?
If you're financially stable, planning to stay put, and can handle the payment at 6.165%: Go for it.
If you're stretching your budget, banking on a quick refinance, or playing real estate roulette with your timeline: Pump the brakes.
The market isn't crashing. It isn't booming. It's doing that responsible adult thing where it finds balance (boring, I know). Which means the "right time" to buy isn't about waiting for some magical interest rate—it's about you, your situation, and whether you can sleep at night after signing those papers.
Now stop overthinking it and call me when you're ready to look at houses. 😉
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