Waiting for Housing Costs to Come Down? You May Want to Change Your Strategy!

I want to take you back to a video we shot in 2022 (you’ll find it below). At the time, many people were convinced a housing crash was inevitable. Social media was flooded with “experts” warning buyers to hold off, claiming prices would plummet and rates would normalize. Some buyers hesitated, fearing they’d overpay. Others waited, hoping interest rates would drop. Fast forward three years…what actually happened? The median home price in Dane County has risen about 15% since 2022. The monthly payment for a median-priced home (with 20% down) has jumped from $2,300 to $2,620 per month. Buyers who waited have lost thousands in equity and buying power. Why? Because the market was never on the verge of crashing—supply and demand were (and still are) out of balance. Home values have continued rising, even if the pace has slowed. The Cost of Waiting If you’re waiting for rates or prices to drop, here’s something to consider:  ✅ Buy now, and if rates go down later? You win—you can refinance at a lower rate. ✅ Buy now, and if rates stay the same? You win—because home values are still rising. ✅ Buy now, and if rates go up? You win—locking in today’s price before affordability worsens. But…   ❌ If you wait and rates go up? You lose—higher rates + higher prices.  ❌ If you wait and rates stay the same? You lose—same rates + higher prices.  ❌ If you wait and rates go down? You still lose—because the cost of homes will likely be even higher. Should You Buy? Buying a home is a BIG decision, and it has to be the right move for you. If you’re not ready for homeownership, don’t buy. If you’re unsure about staying in the area, don’t buy. If your career is unstable, don’t buy. If there’s no home on the market that fits your needs, don’t buy. But if you’re waiting solely for prices or rates to drop—rethink that strategy. If you want to make the best decision for your long-term financial future, let’s talk. Everyone’s situation is unique, and we’d love to help you figure out the smartest move for you.