Brian Wittman | Source | Owner/CEO at SILT Real Estate and Investments, LLC

He suggests, “The economy and inflation have made pricing more prevalent than ever before.” He says, “Allow them the opportunity to say no, but get buy-in to the idea that if the price works for both parties, they would be willing to accept it today.”

I don't believe in the philosophy that buying now and refinancing later is the best course of action. We're still not sure of the direction of the housing market, including both property values and interest rates. The problem with this particular philosophy is that buying now and hoping that interest rates go down to make your payment better is bad financial planning. If you can't really afford the payment now, you'll be overpaying while you wait and hope for interest rates to drop.

Knowing that listings are increasing, prices are dropping, and interest rates aren’t rising as quickly doesn’t mean it’s a good time to buy a house. You should consider quite a few things before you decide to buy a house.

The housing affordability index sits at 101.7 as of the end of December. The affordability index tells you how well the typical American family can afford a home and a score over 100 means it’s easier to afford a home.

Even though a home seems to be affordable and home builders believe conditions are improving, the home builder confidence index sits at 42, which is almost half of what it was a year ago. The confidence index is a survey of home builders in which they rate current sales compared to the next six months and expected traffic.

This still tells me there’s a supply issue. The supply issue isn’t permanent, so if you’re lucky and find the right house at the right rate, buy it. Otherwise, it’s best to wait out this market cycle.