I believe in 6 months the market will be about 4% higher. So your $1.2m house will be $48k more expensive.
If you want to buy in a “cookie cutter” area like downtown or the suburbs, then I’d say buy ASAP.
If you are looking somewhere like La Jolla, Point Loma etc where almost every house is unique, I’d say start looking now but you might need to wait a while to find exactly what you want. But when you find it, make your offer aggressively.
Even 3 years ago the $1.2 mil range places often sat on the market for a few months. Now they are moving about as fast as the lower end.
In my 92107 zip, we had 14 May 2019 sales in the $1m+ range and there are 30 listings. This 2 month supply in the high end is pretty tight.
