Is Now a Good Time to Buy a House?

Redfin News

by Jamie Forbes

February 23, 2026

AI-Generated Deep Dive Summary

Is Now a Good Time to Buy a House? With mortgage rates at four-year lows and a buyer’s market offering more opportunities for homebuyers, the timing may be favorable for those ready to make a move. Despite record-high prices and economic uncertainty, experts suggest that affordability improvements and favorable borrowing conditions could make this a strategic moment for buyers with the means to act. The housing market is currently experiencing a unique dynamic: while house prices remain high, driven by limited inventory and strong demand, there are now 600,000 more sellers than buyers on the market. This imbalance gives buyers leverage in negotiations, as sellers may be more willing to offer concessions. Additionally, mortgage rates have dropped significantly, with the 30-year fixed rate sitting at 5.99%—a four-year low. These lower rates are expected to persist through 2026, potentially saving buyers thousands on their monthly payments compared to last year. However, the market is not without challenges. Record-high prices, a sluggish job market, and economic uncertainty have caused many potential buyers to hold back, leading to fewer home sales and limited listings. This cautious approach has resulted in a slower-than-usual housing season, with inventory levels remaining low despite rising demand. For those considering purchasing a home, the decision hinges on personal financial readiness. Experts advise consulting local real estate agents to navigate market conditions effectively. While prices may continue to rise, affordability improvements and lower mortgage rates could make this year more favorable for buyers compared to recent years. As Redfin’s Chief Economist notes, “Now is a good time to buy if you can afford it,” but buyers should remain confident in their financial stability and long-term income potential. In summary, the current market offers a unique window of opportunity for homebuyers, with lower mortgage rates and a buyer-friendly environment. While challenges like high prices persist, those ready to take the leap may

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Originally published on Redfin News on 2/23/2026