At Portland Housing Center we believe the best time to purchase is when you are financial ready and plan to stay in the same home for several years. While none of us have a crystal ball to know what is going to happen in the market, we do know that generally speaking trying to time any market (real estate, stocks, etc.) is not a good strategy as peaks and valleys can only be identified retroactively. So far competition and prices continue to be steady.
Your personal financial situation and goals should always be your guide in home purchase decisions. Focus instead on the stability of your job, the affordability of your potential payment, your current savings, debt to income ratio, and credit scores when determining if now is a good time to purchase. As always, building a skilled homebuying team with a lender and Realtor you can trust will be important in being successful in your home purchase.