Based on my research of current market data as of June 23, 2026: **Current Market Conditions:** - **Mortgage rates:** 6.61% for 30-year fixed (up slightly from last week) - **Median home price:** ~$412,000 (up 3.8% year-over-year) - **Housing inventory:** 3.2 months supply (below balanced 6 months) - **Listing prices:** Down 2.4% year-over-year (7th straight decline) - **Home sales:** 4.17M annualized (up 3.2%) - **Fed funds rate:** Held steady at 3.50%-3.75% - **Inflation:** 4.2% year-over-year **Arguments FOR Buying Now:** 1. Listing prices are declining (down 2.4% YoY), giving buyers negotiating power 2. Inventory is improving (active listings up 1.8%, new listings up 2.1%) 3. There are 46.9% more sellers than buyers, creating buyer leverage 4. Waiting one year costs an estimated $40,600 in higher prices + rent paid 5. Rates may drop to 5.5% by late 2026 if inflation cools **Arguments FOR WAITING:** 1. Mortgage rates remain elevated at 6.61% 2. Nine Fed officials anticipate a rate hike by end of 2026 3. Iran war and 4.2% inflation create economic uncertainty 4. If inflation retreats and Iran peace deal materializes, rates could fall significantly 5. Price growth forecasts are mixed (Zillow: 0.3%, NAR: ~4%) **Bottom Line:** - **If planning to stay 5+ years:** Consider buying now – listing prices are declining and you can refinance later if rates drop - **If a first-time buyer on tight budget:** Waiting 6-12 months could be beneficial as rates may drop - **Key factor:** Watch Fed decisions and inflation trends; rates could become more favorable by year-end The market is more favorable than last year with declining listing prices and more inventory. For most buyers with stable finances and long-term plans, 2026 is a reasonable time to buy, but don't try to perfectly time the market.