Bonus question: what IS actually a good time vs. a bad time to buy a house, if that is an actual thing?
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in addition i would add when there is very little inventory and a lot of buyers, sellers are in the driver seat. they can get the price they want with little negotiation. buyers have fewer choices and get into bidding wars often paying thousands over asking price. conversely when there is a lot of inventory and fewer buyers it might be a good time to buy. its a “buyers market”. you can take your time and negotiate a better price or request repairs and other concessions from the seller. when interest rates are very low as they have been for a very long time this props up the housing market and makes real estate attractive. thing is its hard to time real estate markets. they dont turn on a dime. furthermore real estate is local. areas that are in high demand are cities and towns that people really want to live in because of perceived quality of life, schools, job market, natural beauty etc. prices are often more stable in those places and less subject to booms and busts.
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