Will home prices fall another 1%? 2%? 5%? Will mortgage rates go from below 5% to 6%, or 7%, or 8%?
Should you continue to wait, and wait, and wait before you buy? And if you do wait, will home prices go down - or will both home prices AND interest rates rise, making it more expensive all the way around?
No one knows if we've hit the bottom. And no one will know for sure, until the bottom is in the rear view mirror and prices have consistently moved up.
One thing we do know is that homes are affordable. And rates are near all-time lows. And the economy and job market are improving.
Frederick B. Wilcox said it best. "Progress always involves risks. You can't steal second base and keep your foot on first".
Don't try to pick the bottom. Or you just might get caught, with stinky fingers!
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