I would agree with Rustico, buying a house you love can be very bad.
Buying a house you can readily afford that fills your needs is important. Buying a house you love should be left to the financially independent as their price tags and maintenance needs tend to push the envelope.
The best time to buy depends more on you than the market. Buy when your finances are strong, your income stream known and predictable and your family situation is predictable. You match that against prices, financing costs and quality of the for sale and rental markets and rents.
So when was the best time to buy? Last year. IMHO, from this point forward, you may get a lower price or will likely get a lower inflation adjusted price, but much like the downturn of the 90s. The monthly payment isn’t going to budge much and the quality is going to go down. Way down. All on average, exceptions to the rule apply.
Unique property homes excluded, which frankly, may go up in the price because, again IMHO, 95% of the homes in Cali are junk.
