To the OP
Are you planning on staying in the home long term (7 years or longer.) ?
Does the house meet your needs?
Do you have a contingency savings account in case of job loss or need for a new roof, etc…?
Will you be happier in the house, living there, paying your mortgage, or happier renting.
I know it’s not a popular view on this board, but I keep espousing my view: You should purchase a home, not an investment when you’re buying a house.
Does it provide shelter in a form that won’t leave you broke and/or full of regrets? Will your quality of life be better or worse if you buy?
Forget trying to time the market… figure out if you can afford to live in it… If you’re buying the house to live in, long term, then you don’t have to worry about whether this is the absolute bottom or somewhere in the middle.
That said – if you’re plan is to trade it on a bigger/newer/more expensive home in a few years… then my advise doesn’t apply… and I’d advise you to keep renting… you’re gambling your downpayment if you’re buying short term.
