Why June’s NAR Report Signals a Prime Buying Moment

by Michelle Morgan

I wanted to share some insights from a recent National Association of Realtors® (NAR) report that could be especially relevant if you've been weighing whether now is the right time to buy a home.

Here are the key highlights:

What Could Flip the Market?

NAR economists say if the 30-year fixed mortgage rate drops to 6%, an estimated 5.5 million additional households—including about 1.6 million renters—would suddenly be able to afford a median‑priced home Nar.realtor+11Nar.realtor+11Instagram+11.
Roughly 550,000 of those could convert to actual buyers within the next 12–18 months Nar.realtor, which would likely DRIVE UP competition and prices.

Current Conditions: A Buyer’s Window

Prices in many areas have already softened, with more sellers willing to negotiate and accept price reductions AP News+1The Wall Street Journal+1.
National home prices are still rising—but at a slower pace, and inventory is increasing in many markets, giving buyers more leverage Nar.realtor+7expressnews.com+7The Wall Street Journal+7.

Why Buying Now Makes Sense

You might be able to refinance later if rates continue to fall—but you won’t be able to lock in today’s prices tomorrow.
Waiting for mortgage rates to dip to 6% (which NAR expects possibly by 2026) risks entering a market where demand has surged and prices have risen newsweek.com+8Nar.realtor+8New York Post+8.

Bottom line:
A drop in rates to 6% could unleash significant buyer demand—from households currently sidelined by affordability. But that heightened competition could push home prices—and required down payments—higher. At the same time, pricing in many areas remains favorable now, and sellers are open to negotiation. You can always refinance, but you can’t turn back the clock on prices.

If you’ve been considering a move—whether it's your first home, an upgrade/downsize, or an investment property—this could be one of the smartest timing windows in years. Let’s connect soon to explore what’s available and how you can act before the market shifts.