It's About Time, Not Timing
Market up or down - real estate prices, values, number of sales, and the price curves are always news. That's significant because it confirms home values mean a lot to us. Let's stop and consider real estate is a long -term investment that historically has had a high payback over time. Only in the very recent past has it been viewed as a commodity, so that today people consider trying to "time" the market.
As long is it's affordable, owning a home of your own is good at any time. Reducing a mortgage and building equity bit by bit, month after month, sure beats the zero-effect of rent payments. Home is about where we Live, share our joys, the good times and the special moments.
When do home prices make the biggest difference? When we're entering the market or cashing out of the market. Otherwise, your moving with the market, and it's more about understanding what's happening at the neighborhood level, not necessarily the national stats.
Today, there are Markets within Markets, right here, such that different house types in differing neighborhoods reveal buying and selling opportunities that the mainstream media flat out misses. Timing the market is really about being involved with the trends over weeks and even months, so that a move is made with informed knowledge about events and circumstances. Reading headlines that the markets have surged or stumbled can be misleading or may even mean - there's a missed opportunity - you're too late!