Is Now a Good Time to Buy a Home?

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The honest answer is: it depends on your personal situation. But if you look at what's happening in the market right now, most experts agree — waiting probably won't do you any favours.

Demand is strong, supply is tight

The first months of 2024 have been surprisingly active. Transactions are running ahead of expectations, new residential projects are launching across the country, and demand is growing around 10% year-on-year. The problem? There simply aren't enough homes to go around. That imbalance isn't going away anytime soon — and it's keeping prices on an upward path.

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Should you wait for interest rates to fall?

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This is the big question on everyone's mind. The short answer: probably not. Rates are already being priced in by banks, and mortgage conditions are quietly starting to improve — even before the official drop. More importantly, if rates do fall, demand will spike and prices will likely rise faster. Waiting for cheaper financing could mean paying more for the property itself.

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The real risk of waiting

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In a tight market, good properties don't sit around. If you find something that ticks all your boxes, hesitating could mean losing it altogether. As one expert put it bluntly: "The best time to buy was yesterday. The second best time is today."

 

The bottom line

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Stop trying to time the market perfectly — nobody does. Instead, ask yourself: Does this property fit what I need? Can I get financing? If the answer to both is yes, now is a reasonable time to move forward. Prices aren't crashing. Rates won't fall dramatically overnight. And supply isn't getting better anytime soon.

Buy when it makes sense for you — not when the market tells you to.

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