This question comes up often—and it always sparks plenty of opinions.

In my view, if you’re financially ready, now is a great time to buy.

That readiness matters more than anything else. If you don’t have a stable job, steady income, an emergency reserve, and realistic expectations, then it’s wise to hold off. The last thing you want is to take on a mortgage before you’re truly prepared.

You’ve probably heard the saying: “Date the rate, marry the house.” It’s true. Many potential buyers are holding back because rates aren’t as low as we grew used to. But here’s the reality, your rate today isn’t necessarily your rate forever. According to industry data, the average homeowner refinances within the first 2–3 years when market conditions allow.

In my own journey:

• 8½ years ago, I bought my home at a 6% rate.
• Two years later, I refinanced it to 4.25%.
• Two years after that—during COVID—rates dropped sharply, and I refinanced again to a 2.75% 30-year fixed.

Over my 20+ years in the mortgage industry, I’ve noticed that buyers often come out ahead when purchasing during a “slow” or “sluggish” market—just like now. When demand is low and supply is high, buyers have the advantage. In fact, recent nationwide data shows there are currently more homes for sale than buyers—one of the most buyer-friendly conditions we’ve seen in years.

Why Buying in a Slow Market Can Benefit You

1. More Negotiating Power

• Sellers are more open to price reductions, covering closing costs, or including extras like home warranties.

  2. Lower Competition

• Fewer bidding wars mean less chance of paying over asking or feeling pressured to decide too quickly.

  3. More Choices

• A higher inventory gives you the ability to find the right home, not just the only available home.

  4. Flexible Terms

• Sellers may agree to longer inspection periods, extra contingencies, or even lease-back arrangements.

  5. Better Deal Potential

• Price cuts and seller incentives are more common, especially if a seller is motivated to move quickly.

  6. Room for Upgrades

• Savings from the purchase price can be invested in renovations, new furnishings, or paying down your mortgage faster.

  7. Less Pressure

• More time to review inspection reports, think things through, and make a confident, informed decision.

Bottom line: If you’re financially ready, buying in today’s market could position you for long-term gains—both in equity and in negotiating power. Rates will change over time, as will the market but the home you find now might not be available later.

 Jesse Young
Neighborhood Loans

jyoung@neighborhoodloans.com 
📞 817-939-1467 (Direct)