Reply to Trading up houses: is cooler market better than hotter market?

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[quote=Anonymous]Thinking of moving from $800K house in NWDC to $900K house in Bethesday/CCDC in a year or two.  When is it better to trade up:  when the market is relatively hot (like now) or when it's cooler?  I see my situation as hedged, as I already own a home and the increase is not drastic:  if prices go up a lot, the new house will be more expensive, but the current house will as well; if prices decline a lot, the old house will give me less equity, but the new house will also cost less.  So I am inclined to think it's not very important in my case.  I of course understand than a 5% (or 10% !) increase in the $900K is more than the same % increase in the $800K house.  Working with the inverse of this, and given than any potential decline might affect the higher-end homes more than the more "modest" homes in the 800K range, I am inclined to think that it's better to trade up when things cool down -- but that ultimately I should do it when it works best for my family rather than trying to time the market.[/quote]

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