Is It a Good Time to Buy a House?

The housing market loves to keep us guessing

But when you’re ready, you’re ready — and that matters way more than waiting for a perfect moment

If you’re house hunting, here’s your game plan

How’s the housing market right now

The biggest news: More houses are hitting the market

Buyers can expect more choice and less competition

Skip ahead to read :Mortgage rates

Inflation and the economy. prices. sales

Competition. » MORE: Calculator: How much house can I afford

Weekly average mortgage rates a summer heat wave, mortgage rates aren’t giving any relief — and it’s making buyers sweat

When mortgage rates are high, your buying budget doesn’t stretch as far

The interest rate on a 30-year fixed-rate mortgage averaged 6. 84% annual percentage rate (APR) for the week ending June 26, according to rates vided to NerdWallet by Zillow

A basis point is one one-hundredth of 1%. » MORE: Nerdy analysis: This week’s mortgage raterage weekly mortgage ratesMortgage typeAPR30-year fixed mortgage6. 84%15-year fixed mortgage5. 93%5-year adjustable7. 12%Averages are for the week ending June 26, 2025, according to rates vided to NerdWallet by Zillow. 🤓Nerdy TipCompare offers from at least three lenders to get the best deal

Comparison shopping can you thousands of dollars over the life of the loan. » MORE: See NerdWallet’s picks for the best mortgage lendehould I wait for a recession to buy a house

Tariffs + recession whispers = instant overthinking

Here’s how to stay grounded:🤔 Consider pausing: If your finances feel shaky — for example, you’re worried job security or paying bills — it’s wise to hold off. 😌 Stay the course: If your income is steady and your budget is solid, don’t let scary “what if” headlines throw you off track

The Federal Reserve, the nation’s central bank, indirectly influences interest rates on all loans (including mortgages)

With persistent inflation, the committee has signaled it won’t cut the federal funds rate until this fall, at the earliest. » MORE: How the Federal Reserve affects mortgage ratesIs it a buyer’s or seller’s market right now

Right now: Seller’s market (moderate)After years of sellers having the upper hand, the vibe is finally shifting. “Outside of a temporary blip early in the pandemic, we’re ly to see the most buyer-friendly summer in nine years,” Danielle Hale, chief economist at Realtor

Com, said in a statement

What does a buyer-friendly shift look

Hale flags these signs:✅ More houses to choose from. ✅ Less competition. ✅ Wiggle room on price (including sellers accepting offers below asking). ✅ Willingness to negotiate on contract terms

Currently, inventory sits at a 4. 6-month supply of s for sale. prices: High and still climbingYear-over-year prices have gone up for 23 months straight

The national median price for existing s sold in May was $422,800, according to the NAR

In a news release, Lawrence Yun, NAR chief economist, blamed sluggish sales on high mortgage rates. "If mortgage rates decrease in the second half of this year, expect sales across the country to increase due to strong income growth, healthy inventory, and a record-high number of jobs,” he said

A listed for sale received an average 2. 5 offers in May

Fewer s are selling above list price

Houses stayed on the market for a median 27 days in May, longer than a year ago (24 days). » MORE: How to buy a house, step by stepShould I buy a house now or wait

Consider these green flags:✅ Stability: You have steady income and employment, and you’re ready to stay in one place for several years. ✅ Lifestyle: For first-time buyers, you’re prepared to be responsible for maintenance and repairs

For repeat buyers, your current house no longer meets your needs. ✅ Savings: You have money for a down payment and closing costs, as well as for moving costs and other expenses. ✅ Low debt: Your debt-to-income ratio (DTI) shows how much of your monthly income goes toward paying debt ( student loans, car payments or credit cards)

The lower your DTI, the better your mortgage rates and terms

Don’t try to time the market perfectly

Do you have a stable income, solid savings and a desire to settle down

You can find a way to make it work. the authorAbby Badach DoyleAbby Badach Doyle writes buying and mortgages for NerdWallet