Everyone’s waiting for rates to drop to 6%. Here’s the thing: when they do, the floodgates open.
According to NAR Research, that single shift could make 5.5 million more buyers able to afford a home. Of those, 550,000 of them are likely to buy within 12–18 months.
Translation: Way more competition.
Rates are now hovering in the mid-6s after hitting their lowest point this year. Will they keep falling? Maybe. But most forecasts say we’ll stay in the mid-to-low 6s through next year.
If you can make it work today, you may be able to lock-in the home you want without competing against millions of new buyers next year.
The window is open now. It would be wise to act BEFORE the rush starts.