Reply to When do you think housing prices will drop (or never)?

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Reply to "When do you think housing prices will drop (or never)?"

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[quote=Anonymous]I think prices are going down in my MoCo neighborhood a little bit but certainly not enough to make it feel like a good time to buy. At least for $500-$600k townhouses they are selling a bit lower than they did last year. Not dramatically so and of course it is hard to compare without going inside the properties themselves. They would be hard to afford with today's interest rates.

I think it is impossible to time the market so even though it doesn't feel like a good time to buy, it probably won't feel like that any time soon. Unless there is a massive increase in housing supply in the near future you will still have buyers for houses even at high interest rates. If you look at Redfin's summary data on the Montgomery County housing market, the number of days on the market for houses has not gone up on average. Houses are still selling faster than they did in 2019.

Honestly if you see something you want and can afford I would go for it and not try to time the market.[/quote]

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