“Should I wait to buy a home?” That’s the #1 question I hear — especially from first-time buyers.
In 2025, the answer isn’t simple. But here’s how to think through your options based on today’s market in Santa Clara County — with insight into inventory trends, lending patterns, and buyer psychology you won’t find on most blogs.
📉 Why Some Buyers Are Waiting
Waiting isn’t always a bad idea — especially if you’re still preparing financially or figuring out where you want to live.
✅ Mortgage interest rates have hovered in the 6–7% range for most of 2024 and early 2025. Many buyers are hoping rates will dip below 6% again.
✅ Inflation concerns and affordability pressures mean many buyers are working on reducing debt and saving up larger down payments.
✅ Appreciation has cooled — in fact, in parts of San Jose like East Foothills or parts of South San Jose, values have remained flat year-over-year, giving some buyers confidence that they’re not “missing the boat.”
💡 Just know: if rates drop in late 2025 or 2026, demand may spike — and with limited inventory, that can reignite bidding wars fast.
🔑 Why Others Are Buying Now
There’s an advantage to shopping in a cooler market — less competition and more flexibility.
✅ Active listings are up slightly from this time last year, giving buyers more choices, especially in the $900K–$1.3M range.
✅ Sellers are more negotiable — according to MLS data, 1 in 4 listings in Santa Clara County has had at least one price reduction in the first 3 weeks.
✅ Some sellers are offering rate buy-downs (a temporary or permanent way to lower your interest rate), especially on homes that have sat for over 21 days.
💡 This gives buyers room to negotiate terms that weren’t available in the frenzy of 2021–2022. Even if the rate isn’t ideal, you can often refinance once rates ease.
📊 What the Data Says: Active Inventory + Buyer Behavior
➡ Inventory: As of Q2 2025, Santa Clara County’s active listings are up about 12% year-over-year. However, the number of new listings each month remains historically low, which limits real price drops.
➡ Buyer Activity: Open house traffic remains light in lower price tiers but shows spikes in more desirable pockets like Cambrian, Santa Clara, and Campbell — meaning quality still sells fast.
➡ Offers: The average number of offers per listing has dropped from 5+ during peak to 1–2 now — but well-priced homes still receive multiple offers, especially if staged and move-in ready.
💡 Translation: You won’t face the same level of competition today, but a clean, desirable home can still move quickly — especially under $1.4M.
🤔 So… Should You Buy Now or Wait?
Start by asking the right questions:
✅ Are you tired of paying rent with no return?
✅ Do you have enough saved for a down payment and emergency fund?
✅ Would buying now give you more long-term control, even if the monthly payment is a bit higher?
If you answer yes to most of the above, it’s smart to at least start looking. You don’t have to buy today — but you do want to be ready when the right home shows up.
💡 Bonus insight: Lenders are seeing more clients pre-approved for 3–6 months in advance, so they can act quickly when the market shifts.
📉 Why Some Buyers Are Waiting
Waiting isn’t always a bad idea — especially if you’re still preparing financially or figuring out where you want to live.
✅ Interest rates are still hovering above 6%
✅ Some buyers need time to save or reduce debt
✅ Slower appreciation means less pressure to rush
💡 Just know that when rates drop, demand — and prices — could spike again.
🔑 Why Others Are Buying Now
There’s an advantage to shopping in a cooler market — less competition and more flexibility.
✅ Sellers are more negotiable on price and terms
✅ You may receive closing credits or rate buy-down offers
✅ Easier to find a home without competing offers
💡 You can always refinance later — but you can’t go back and buy today’s homes tomorrow.
🤔 So… Should You Buy Now or Wait?
Start by asking the right questions:
✅ Is your income stable for the next 5+ years?
✅ Are you tired of paying rent with no return?
✅ Do you have enough saved for a down payment and emergency fund?
If yes, it’s worth exploring homes now — even just to be ready when the perfect one appears.
🗝️ Want Help Deciding?
Let’s run the numbers and talk through your timeline. I’ll give you honest advice tailored to your situation — not a sales pitch.
📞 Reach out and let’s talk it through — even if you’re just starting to explore.
📚 Sources
Sources: MLSListings Inc. data, June 2025; California Association of Realtors (CAR); local MLS access.
