Should I buy now?

It depends. If you are buying with the expectation of the kind of rapid price increases we saw in the past I don’t see that happening.  If you are buying a home that you would be satisfied living in for at least the next five years I would say buy now. Prices are low and interest rates are low. If you get a fixed rate loan with payments that you can afford I don’t see how you can go wrong (with the exception of someone losing their job). If you own any stocks you know that you don’t typically trade in and out of the stock every time it moves (unless maybe you are a day trader). It is possible that if you buy a house now the price could go down somewhat. Considering where we are now if it does go down it probably won’t be a huge amount. If you have the mindset that you are buying the house to have a place to live and that you can afford the house payments so what if it goes down by some nominal amount?  If you go into the deal now with a five year time horizon it is unlikely that you will regret the decision at the end of the five year period.