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When is the right time to buy a house?

Howdy,

I plan on buying my first house in the first quarter of 2024, God willing. I live in San Antonio, Texas. The city has been growing since the pandemic with people migrating from other states leading to an increase in demand for houses.

Even with rate increases it seems like houses are still moving. Not to mention that a 1,300-1500 sq ft home is around $250K (Insane).

From your experience during similar economic environments have you seen house prices drop? I understand rates are a big factor in these prices as for area, but my thought process is if people are moving to San Antonio the house prices will still remain at a certain threshold.

One of my biggest concerns is buying a house then the value of the house decreases significantly.

Can someone enlighten me with market indicators as to when you should buy a house?

I know this is a loaded question, but I appreciate any educated responses. Thank you.

submitted by /u/NuyteBuns
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source https://www.reddit.com/r/RealEstate/comments/130rzul/when_is_the_right_time_to_buy_a_house/
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