When interest rates go down the price of homes will increase.
Rates are now in the sixes, for example, 6.78% on a 30-year fixed.
The point is that if you find a desirable home now and can be approved for a mortgage, you can refinance as soon as rates drop by about 2%, but if you wait, that home may cost you a projected 12% more by next year. If rates drop, there will also be many more buyers looking, so a seller’s market will again be in command and who knows; we may see bidding again between buyers which result in even higher selling prices.
Start looking now, you might fall in love! …and remember that your interest charges on a home mortgage are tax deductible.