Dear Dave,

We’re thinking of buying a home, but we don’t want to pay too much. It seems like the market is slowing down and prices should be coming down too. Is it worth it to wait another year and see what happens, or should we just bite the bullet now?

—Tom and Megan, Grand Junction

Tom and Megan,

Great question—and one I hear a lot these days! You’re right: the market has cooled a bit compared to the buying frenzy of the past few years. But whether you should wait or jump in now depends on more than just what home prices might do.

First, let’s talk about the bigger picture. According to a recent article from Keeping Current Matters, home prices tend to follow what’s often called the “five-year rule.” Over the past 30+ years, home values have consistently appreciated over five-year spans—even through downturns like the Great Recession. The reason: real estate isn’t usually about quick flips—it’s about playing the long game.

In fact, historically speaking, waiting rarely saves you money over five years. Even if prices level off briefly, they usually resume climbing, and the cost of waiting can sneak up in unexpected ways.

Here’s why:

? Interest rates may change.
Even if home prices drop slightly, a higher interest rate can wipe out any savings and actually make your monthly payment higher. Predicting rates is tough—even the experts get it wrong sometimes.

? Rental costs keep going up.
If you’re renting now, every month you wait is money going toward your landlord’s equity—not yours.

? Long-term appreciation.
Over time, owning helps build wealth through home equity, whereas waiting can mean missing out on years of growth.

That said, here are a few practical questions to ask yourselves:

1?? How long do you plan to stay?
If you expect to move again in 1–2 years, waiting might make sense, because short-term fluctuations matter more. But if you plan to stay at least 5 years, buying now usually wins out.

2?? Are you financially ready?
Having a stable job, good credit, manageable debt, and enough saved for a down payment and closing costs is key. If you’re not there yet, use the next year to get prepared.

3?? Could you handle unexpected costs?
Homeownership comes with maintenance and repairs. Make sure you have some cushion in your budget.

A balanced market isn’t a bad thing.
Right now, we’re moving away from the extreme seller’s market where every home had bidding wars. This shift actually helps buyers: more choices, less pressure, and sometimes sellers willing to negotiate on price, repairs, or closing costs.

If you’re ready financially and emotionally, buying now can still make sense—and might even feel less stressful than trying to outbid ten other buyers like folks had to do a couple years ago.

At the end of the day, the best time to buy is when it’s right for you. Nobody can perfectly time the market—but owning a home for the long run is still one of the best ways to build stability and wealth.

Dave Kimbrough
The Kimbrough Team – RE/MAX 4000
HAVE A QUESTION? ASK DAVE!

 dave@thekimbroughteam.com