Home prices are decreasing, should I wait to buy?

Home Prices Are Going Down. Should I Wait to Buy?

When you hear that home prices are dropping in Portland, it’s natural to wonder if you should wait to buy. After all, no one wants to purchase a home only to see its value dip shortly after. But timing the real estate market is tricky—and waiting could cost you in other ways.

First, while prices may be adjusting in some neighborhoods, interest rates and competition play a huge role in affordability. If interest rates rise while you’re waiting for a bigger price drop, your monthly payment could end up being higher, even if you pay less for the home.

Second, Portland’s housing market is hyper-local. Some areas may see price decreases while others hold steady or even climb due to high demand. Working with a local expert like Lisa Mehlhoff Homes, Portland Realtor, can help you target neighborhoods where your buying power is strongest right now.

Finally, if you’re planning to stay in your home for several years, short-term price dips often matter less than finding the right property that fits your needs and lifestyle. Your home is both an investment and the place where your life happens—waiting for the “perfect” market moment can mean missing out on the perfect home for you.

Bottom line: If you’re financially ready, have found a home you love, and plan to stay put for the long term, buying now could still be the right move—regardless of short-term market fluctuations.