Should We Wait for Rates to Drop?

Everyone keeps asking if they should wait for rates to drop.

Here’s the reality and some context:

In the 1980s, people were buying homes at 12%
In 2020, rates were around 3%
Today we’re in the mid 6% range
In 2025 the average was 6.6%

Today it’s just a touch lower.

People think waiting is the “safe” move. Just hang tight until rates come down and then jump in. Sounds logical, but what usually gets missed is what happens when that plays out.

If rates drop, more buyers come back into the market. Demand picks up. Competition gets tighter. Prices tend to move up again.

Some price ranges are seeing more competition than others so you may still experience stiffer competition especially if the homes are in good condition and in a gret location.

Not encouraging anyone to do anything just trying to provide some context.