July 5, 2026

Should I Buy Now or Should I Wait?

Everybody wants to know whether they should buy now or wait for lower rates and better prices.

Reality: waiting is not automatically safer or smarter.

You may get a slightly lower rate later. But if rates fall meaningfully, more buyers will come back into the market, competition will increase, and sellers may become less willing to negotiate. The leverage that exists today could be gone tomorrow. Oh, and prices rise.

The right question is not, “Will the market be better six months from now?”

The right question is, “Does this particular home, at this particular payment, fit my long-term plan and is workable for me at this particular time?”

That is especially important here in South Florida. National headlines may talk about price cuts and more inventory, but South Florida is not moving exactly like every other market. Recent local data showed median sale prices rising year over year for both single-family homes and condos. That does not mean every home is worth its asking price. It means buyers need to look at the actual neighborhood, the actual property, and the actual terms of the deal.

A buyer may have leverage today on a home that has been sitting, needs work, has an unrealistic seller, or has financing or insurance complications. That leverage can be used to negotiate a price reduction, seller credit, repair allowance, or interest-rate buydown.

Buying now makes sense when you have stable income, sufficient reserves, a realistic payment, and a plan to own the home long enough for the decision to make financial sense.

Do not buy simply because someone says rates may rise. Do not wait simply because someone says rates may fall.

Buy the right house at the right payment when the deal works for your life. Put yourself in a position to capitalize on cheaper financing later when the opportunity is there. (My favorite business advice always is… “Put yourself in a position for something good to happen!”)

Real estate does not wait on perfection either.

Now here is a key to less anxiety and increased odds of success: BEFORE YOU LOOK, get a complete analysis of your financial fingerprint that results in a preapproval that lets YOU evaluate what you are willing to qualify for. Then you will have a complete strategy that tells you whether the purchase truly works.

Clay Edmonds is the Corporate Educator and Complete Mortgage Advisor at Complete Mortgage LLC in Hollywood, Florida, and the creator of MortgageSimplified.net. With over four decades of experience in real estate finance, Clay focuses on simplifying the mortgage process and helping borrowers and real estate professionals make smarter financing decisions. Solutions@MortgageSimplified.n