Should I Wait to Buy a House in 2026?

It's one of the most common questions I hear right now: "Should I just wait?"

Wait for rates to drop. Wait for prices to come down. Wait for the market to make more sense.

I get it. The real estate headlines are confusing. Interest rates are still higher than they were a few years ago. Prices haven't crashed like some people predicted. And everyone seems to have a different opinion about what's coming next.

But here's the thing most people miss: waiting has a cost too.

It's not always obvious. It doesn't show up in a monthly payment calculator. But it's real—and it's often more expensive than people realize.

Let's talk about what you're actually waiting for, what it might cost you, and how to know if now is your right time.

Why "Waiting for the Right Time" Usually Backfires

Here's what happens when people wait for perfect conditions:

Rates drop half a point, and suddenly everyone who was sitting on the sidelines jumps in at once. Inventory tightens. Bidding wars come back. Prices go up faster than the rate savings help.

Or prices soften slightly in one neighborhood, but the home you wanted six months ago is gone. Now you're comparing new options that don't feel quite right—and you're frustrated because you missed the one that did.

The market doesn't wait for you to be ready. It moves.

And while you're waiting for clarity, other buyers are building equity, locking in housing costs, and moving forward with their lives.

The Cost of Waiting Isn't Just Financial

Yes, there's a financial cost. Every month you wait is another month of rent that doesn't build equity. It's another month of potential home price appreciation you're not capturing. It's another month your landlord can raise your rent while a mortgage payment would have stayed fixed.

But there's also an emotional cost.

Waiting keeps you in limbo. You can't make decisions about your space. You can't paint the walls or plan long-term. You're stuck in "someday" mode—and that wears on people more than they expect.

What People Are Actually Waiting For (And Why It Might Not Happen)

Let's break down the three most common "waiting" scenarios and what they actually mean.

Scenario 1: Waiting for Lower Interest Rates

This is the big one. Rates are around 6-7% right now, and people remember when they were under 3%.

Here's the reality: if rates drop significantly, you won't be the only one who notices. Every other buyer who's been waiting will flood back into the market at the same time.

More buyers mean more competition. More competition means higher prices. So yes, your monthly payment might be slightly lower with a better rate—but you'll likely pay more for the house itself.

And here's what most people forget: you can refinance later if rates drop. You can't go back in time and buy the house you wanted six months ago at last year's price.

You're not locked into today's rate forever. But you are locked out of today's opportunities if you wait.

Scenario 2: Waiting for Prices to Drop

I'll be honest with you: broad price drops are unlikely here in Washington State.

We don't have enough homes. Demand is still strong. People are still moving here for jobs. And sellers who don't need to sell simply aren't listing if they don't like the price they'd get.

Could some individual homes drop in price? Sure. Especially if they're overpriced to begin with or need significant work.

But waiting for a market-wide crash means you're betting against local fundamentals—and that's not a bet I'd recommend in King or Snohomish County.

Scenario 3: Waiting for "More Inventory"

More inventory would be great. It would give buyers more options and reduce competition.

But inventory doesn't just appear. It comes from people deciding to sell. And right now, a lot of homeowners have low mortgage rates and no reason to move.

Will inventory improve? Probably, gradually. But it's not going to suddenly flood the market and create a buyer's paradise.

Meanwhile, the homes that are available right now might be exactly what you need—and they won't wait around for you to decide.

The Real Question Isn't "When?"—It's "Why?"

Instead of trying to time the market perfectly, ask yourself why you want to buy in the first place.

Are you buying because:

• You need more space for your growing family?
• You're tired of throwing money at rent?
• You want stability and control over your living situation?
• You're ready to put down roots in a community?

If the answer is yes—and the numbers work—then you're not trying to time the market. You're making a life decision that happens to involve real estate.

That's different.

Trying to time the market is speculation. Making a decision based on your life and financial readiness is strategy.

How to Know If Now Is Your Right Time

Forget the headlines for a minute. Here's what actually matters:

You Can Afford the Payment Comfortably

Not just barely afford it. Comfortably afford it.

Your housing payment (including mortgage, taxes, insurance, and HOA if applicable) should leave room for savings, unexpected expenses, and the life you actually want to live.

If the payment feels tight, it's not the right time—regardless of what the market is doing.

You're Planning to Stay 5+ Years

Real estate is not a short-term play. Transaction costs (closing costs, moving expenses, potential selling costs) are real. It typically takes 3-5 years just to break even when you factor those in.

If you're not reasonably sure you'll stay put for at least five years, renting might be the smarter move—even if the market looks good.

Your Life Situation Supports Homeownership

Do you have stable income? An emergency fund? A realistic understanding of what homeownership actually involves?

Owning a home means dealing with maintenance, repairs, and unexpected costs. If you're not ready for that responsibility, waiting isn't about the market—it's about your situation. And that's completely fine.

What to Do If You're Still Unsure

If you're on the fence, here's what I'd recommend:

Get pre-approved. Know exactly what you can afford. Real numbers replace guesswork and make the decision clearer.

Look at a few homes. You don't have to buy anything. But seeing what's actually available (and what your budget gets you) brings clarity you can't get from scrolling Zillow.

Run the five-year scenario. What does your life look like in 2031 if you buy now versus if you wait? Which version feels more stable?

Talk to someone who's not trying to sell you something. That includes me. My job isn't to convince you to buy—it's to help you make a decision you won't regret.

The Bottom Line

Should you wait to buy a house in 2026?

Maybe. If your finances aren't ready, if your life situation is unstable, or if you're not planning to stay put—then yes, waiting makes sense.

But if you're waiting for perfect market conditions, you're chasing something that doesn't exist.

The best time to buy is when you're financially ready, personally ready, and the property works for your life—not when the headlines say it's a good time.

Market timing is for investors. Life timing is for everyone else.

If you're trying to figure out whether now is your right time, let's talk through it. No pressure, no agenda—just a clear-eyed look at your situation and what makes sense for you.

Because the right decision isn't about the market. It's about you.

Ready to explore your options? Let's have a real conversation about what makes sense for your situation. Reach out anytime—we'll figure it out together.

Frequently Asked Questions

Is 2026 a good time to buy a house in Washington State?

2026 can be a good time to buy if your personal situation supports it. The Washington market has stabilized with more balanced inventory and less competition than 2021-2022. Focus on whether you can afford the payment, plan to stay 5+ years, and have stable income rather than trying to time market conditions perfectly.

Should I wait for interest rates to drop before buying?

Waiting for lower rates often means competing with more buyers when rates do drop, which typically drives prices higher. You can refinance later if rates fall, but you cannot get back years of building equity. The math usually favors buying when you're ready rather than waiting for perfect rate conditions.

Will home prices go down in 2026?

Broad price drops are unlikely in Washington State due to limited inventory and strong local demand. While individual properties may adjust based on condition or pricing strategy, waiting for market-wide price decreases often results in missed opportunities and higher costs over time.

How long should I plan to stay in a home before buying?

Plan to stay at least 5 years to offset transaction costs and build meaningful equity. Shorter timelines increase financial risk because closing costs, selling expenses, and market fluctuations can eliminate any gains. If your situation is uncertain, renting may be the better strategic choice.

What if I buy now and rates drop later?

You can refinance to a lower rate if conditions improve, typically for 2-3% of your loan amount. Meanwhile, you're building equity, locking in housing costs, and benefiting from homeownership. Refinancing is a standard option that protects you from rate risk while you gain the advantages of buying today.