Should You Buy a Home Now? Here’s What You Really Need to Know

Let’s be honest—buying a home in 2024 feels like standing at the edge of a cliff and wondering if you should jump.

Rates are up. Inventory is low. Prices are holding steady in most markets. And everywhere you turn, someone’s offering advice that completely contradicts the last thing you heard. One article says wait it out, another says prices will only go higher. So what do you do?

Here’s the real talk: whether now is a good time to buy depends more on you than the market. But if you're feeling frozen by all the headlines, let me help you break this down in a way that actually makes sense—and maybe even feels a little exciting again.

The Market Right Now: A Bit of a Puzzle

So, what’s actually going on?

We’re in what you could call a “tug-of-war market.” Mortgage rates are hovering around the mid to high 6% range (depending on the day and your credit score). Inventory? Still pretty tight, especially in desirable neighborhoods or areas with good schools and job growth.

But here’s the twist: buyer demand hasn't gone away. It’s just more selective. When something well-priced and move-in ready hits the market, it still gets attention—and sometimes multiple offers. So while this isn’t the red-hot frenzy of 2021, homes are still selling. Buyers are just being smarter, and honestly, so should you.

Should You Wait? Here’s the Catch

Waiting sounds tempting. Rates might come down eventually, right? Maybe prices will too?

Sure, that could happen. But here’s what I tell clients: you’re not just buying a house—you’re buying time. Every month you wait, you’re potentially throwing rent money into someone else’s mortgage. You’re also missing out on equity, tax deductions, and the emotional and financial benefits of homeownership. And guess what happens if rates do drop later this year? A ton of new buyers flood the market—and prices could shoot up again from renewed competition.

Also, if you buy now and rates fall later, you can always refinance. But if prices rise while you’re waiting, you can’t go back in time and buy the house at today’s price.

How to Buy Smart in This Market

This isn’t a market for guesswork. It’s a market for strategy. Here's how to be a smart buyer right now:

1. Get Pre-Approved (For Real).
Don’t just “see what you qualify for.” Work with a lender who will break down different rate scenarios, show you monthly payment options, and help you prepare for out-of-pocket costs.

2. Focus on Monthly Payment, Not Just the Rate.
A slightly higher rate might still be affordable if the home has lower taxes, no HOA fees, or room to rent out part of the space.

3. Expand Your Search Radius.
Some of the best deals right now are 10–15 minutes outside the hottest zip codes. If you're open-minded, you can find more houses for less money.

4. Consider Seller Concessions.
In many areas, sellers are offering closing cost credits or rate buydowns to help offset affordability. That’s free money—use it wisely.

5. Look for Long-Term Value.
Think 5 to 10 years ahead. If the home works for you now and has room to grow into, that’s more valuable than waiting for the “perfect moment.”

Why Buying Now Could Be Your Advantage

Let me paint a picture: you find a home that checks most of your boxes. Maybe it’s not your forever home, but it’s clean, functional, and in a great neighborhood with growth potential.

You make a solid offer—nothing crazy, but competitive. The seller’s motivated, and you negotiate $10K in closing cost credits. You lock in a rate and close in 30 days. You move in, settle down, and a year from now, rates drop to 5.5%. You refinance, drop your payment by a few hundred bucks, and smile every time you pull into the driveway.

This kind of thing is happening right now—but only for buyers who are ready to act with a plan.

Bottom Line: Don't Let Fear Make the Decision For You

Buying in today’s market requires courage, yes—but more importantly, it requires clarity. If you’ve been thinking about buying and you’re financially ready, don’t wait for perfect conditions. The right time might be now—not because the market is easy, but because you’re prepared and you’ve got the right people in your corner.