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Housing market in spring 2024

My husband and I have been wanting to buy a home and our loan officer just told us we need to save up to afford our closing costs and down payment and that we should be able to buy something once more homes become available in the spring? How likely is this? I’ve been reading that some homes maybe be available, yes, but demand will just drive the prices up again and we can only afford so little as it is.

Our stats: Loan we can afford: $200K Location: Northern Va, but willing to move 2 hours out from DC Household Income: $70K Debt: $25K Dependents: 2 Type of home we want: single home, 2 bed 2 bath, 5 acres of land (which our realtor said is unrealistic for our price range)

Should we just bite the bullet now and move out of my in laws and rent an apartment and wait another year to look to buy?

submitted by /u/Notlivingthedream3
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source https://www.reddit.com/r/RealEstate/comments/17xcg08/housing_market_in_spring_2024/
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