Is Now a Good Time to Buy a House?

Mortgage rates are hovering near 11-month lows (about 6.38% on Sept. 29), creating a window of improved affordability even as prices stay high (median ~$440,000, up ~1.7% year-over-year and ~34% above 2020). It’s described as a buyer-leaning market with roughly 500,000 more sellers than buyers and the most inventory since early-pandemic levels—nearly $700 billion worth—especially in the South, though parts of the Midwest and East Coast remain tighter. Demand is still soft overall due to high costs and a sluggish job market, with weaker conditions in places like Las Vegas and Austin but hotter competition for affordable homes in cities such as Dayton and Detroit. Risks include potential inflation pressure (e.g., tariffs/immigration effects) that could push rates and prices higher. Practical guidance: stick to your budget, negotiate for concessions, compare lenders (and consider float-down options), and if you already own, consider selling first to avoid carrying two mortgages. For more information click here.