Spoiler: I'm a mortgage broker, so you might expect me to always say "yes, buy now." That's not how I operate. Let me give you the real picture.
The honest answer is it depends on YOU more than the market.
The truth about waiting for rates to drop
Rates are higher than they were in 2020 and 2021. That's just reality. But here's the thing about waiting for rates to fall: everyone else is waiting too.
The second rates drop in a real way, buyers flood back in, competition heats up, and prices climb. The rate savings get eaten by a higher purchase price and bidding wars. It's a trade-off, not a guarantee.
What's actually happening in SW Florida
Cape Coral and Fort Myers have been among the fastest-growing housing markets in the country for years. People keep moving here in big numbers, and that keeps a floor under home values.
Right now inventory is healthier than it's been in a while. More homes to choose from means more room to negotiate. Sellers here have been willing to cover closing costs or help buy down your rate. That kind of leverage disappears fast when competition returns.
The real question to ask yourself
Forget timing the market. Ask these instead:
- Do I plan to stay in this home for at least a few years?
- Is my income stable?
- Do I have enough for a down payment and reserves without wrecking my savings?
- Is my monthly payment comfortable, not just possible?
If you're nodding along, the market timing matters a lot less than people think. If you're not there yet, that's fine too. Let's build a plan to get you ready.
Insurance and property taxes move the math here more than they do in most states. Before you fall for a listing, let's run the full payment including taxes and insurance so there are no surprises. I'd rather tell you the real number up front than have it shock you at closing.