Should You Buy Now or Wait Until Next Year?

Introduction: The Question Every Buyer Is Asking Right Now

If you’ve been thinking about buying a home in the Boise area, you’re probably asking yourself the same question I hear every single week:

“Should I buy now - or wait until next year?”

It’s a fair question. With interest rates higher than we’ve seen in years, headlines predicting a possible slowdown, and home prices holding steady, a lot of would-be buyers are sitting on the sidelines trying to time the market.

But here’s the truth I’ve learned after helping hundreds of families buy and sell across the Treasure Valley: there’s never a “perfect” time to buy - only the right time for your personal situation.

In this post, we’ll break down the factors that matter most - interest rates, home prices, local inventory, and your long-term financial goals - so you can make an informed decision about whether buying now or waiting makes sense for you.

The Market Reality in 2025

What’s Actually Happening in the Treasure Valley Market

Despite what some national headlines say, the Boise metro market remains surprisingly resilient. Yes, the frenzy of 2021 to 2022 has cooled, but demand is still strong - especially from out-of-state buyers relocating from California, Washington, and Oregon.

According to recent data from the Intermountain MLS:

• The median home price in Ada County sits around $490,000, up slightly year over year.
• Inventory levels have increased but remain below historical averages.
• Days on market have stretched to about 40 to 50 days, giving buyers more breathing room.

In short, homes are taking a little longer to sell, but well-priced, well-presented listings still move quickly - especially in communities like Eagle, Meridian, and Star.

Interest Rates in 2025 - Where Are We Now?

Rates have hovered between 6.5% and 7.5% for much of the year. They’ve come down from their 2023 highs, but not to the record lows of the pandemic.

Many experts predict gradual rate declines into 2026, possibly into the mid-6% or even high-5% range. That’s good news, but here’s the catch: as soon as rates drop, buyer competition returns fast.

When that happens, prices tend to spike again and multiple offers reappear.

So the real question isn’t just, “Should I wait for lower rates?” It’s “What happens to prices when rates drop?”

Buying Now - The Case for Acting in 2025

Reason #1 - Less Competition Right Now

Buyers who move now are getting homes with fewer bidding wars, more seller concessions, and more flexible terms.

In 2021, I had clients who wrote 8 to 10 offers before winning. In 2025, that same buyer could negotiate:

• Closing cost credits
• Builder incentives, like 2-1 rate buydowns
• Repairs and prepaids

Sellers and builders are far more willing to deal right now than they will be once rates dip and demand floods back in.

Reason #2 - Builders Are Offering Big Incentives

Across the Treasure Valley, new construction communities are offering serious perks - tens of thousands in credits, rate buydowns, and free upgrades.

For example:

• CBH Homes, Boise Hunter Homes, and Toll Brothers have all offered temporary rate reductions or closing cost credits.
• Many builders include full appliance packages, landscaping, or extended warranties for buyers willing to close this year.

That’s money on the table that likely won’t be there in 2026.

Reason #3 - You Can Always Refinance Later

Here’s a simple truth: you marry the house, not the rate.

If you find the right home today, you can refinance when rates drop. But if you wait until rates fall, you’ll be fighting over fewer homes with more competition, and possibly paying tens of thousands more in purchase price.

Many lenders are even offering “free refinance” programs, meaning when you buy now, they’ll cover closing costs for a future refinance once rates fall.

Reason #4 - Equity Growth Still Favors Buyers Who Act

Even with slower appreciation, Idaho’s long-term fundamentals remain strong. Our population continues to grow, job creation is steady, and land supply is limited.

If home values rise just 3 to 4% annually, a $500,000 home could gain roughly $60,000 to $80,000 in equity over the next five years. Waiting a year could mean missing the start of that growth.

Reason #5 - Rent Costs Keep Climbing

Renters in Boise are paying record-high rates. According to ApartmentList, the average rent in Boise is around $1,700 per month, and family-sized homes in Meridian or Eagle can exceed $2,500 to $3,000 per month.

If you’re renting right now, that’s money you’ll never see again - whereas mortgage payments help you build ownership.

Waiting Until Next Year - When It Might Make Sense

Reason #1 - You Need Time to Improve Your Financial Position

If your credit score needs work, or you’re still building a down payment, waiting can pay off. Even a 20 to 30 point boost in your credit score can lower your interest rate by 0.25% or more, saving thousands over the life of your loan.

Use the time to:

• Pay down revolving debt
• Avoid new credit inquiries
• Save toward a 5 to 10% down payment

If you need guidance, I can connect you with local lenders who specialize in credit optimization strategies.

Reason #2 - You’re Uncertain About Employment or Relocation Timing

If you’re waiting on a job transfer, selling another property, or transitioning careers, it’s often smart to stabilize first.

Buying is a long-term commitment, so if your timeline or location isn’t certain yet, there’s no rush.

Reason #3 - Interest Rate Drops Could Create Opportunities

If rates drop into the mid-5% range in 2026, your purchasing power could increase significantly.

But remember, price growth and competition can offset some or all of that benefit.

Comparing the Scenarios: Buy Now vs. Wait

Factor	Buy Now	Wait Until Next Year
Interest Rates	6.5 to 7.5%	Possibly 5.5 to 6.0%
Home Prices	Flat to slight growth	Likely higher
Competition	Lower	Higher
Incentives	Strong	Reduced or gone
Rent	Still increasing	Likely higher next year
Equity Growth	Starts now	Delayed 12 months
Refinance Option	Available	Not applicable yet

Verdict: For most buyers planning to stay 3+ years, buying now wins long-term. For those still stabilizing finances or relocating soon, waiting can make sense.

Local Insight - How the Treasure Valley Market Reacts

Boise

Boise’s core remains one of the strongest performing sub-markets. Limited new construction inside city limits keeps supply tight. If you’re targeting North Boise, the Bench, or the East End, waiting could mean paying more later.

Meridian

Meridian continues to see steady development and remains a family favorite. Builders here are offering excellent incentives right now.

Eagle

Luxury buyers should pay attention to the current softening in the $900K+ range - especially with builders offering 3-2-1 buydowns.

Nampa and Caldwell

These markets offer the best affordability in the Valley. Prices remain competitive, and new construction is booming - but so is demand from first-time buyers.

Real Example - How One Family Made the Call

A couple from California recently reached out. They were torn between buying now or waiting for rates to fall. After reviewing their timeline, they decided to buy a new construction home in Star with a builder-paid 2-1 rate buydown.

Their initial rate started at 4.99% for the first year, plus they negotiated $10,000 in closing costs. When rates fall, they’ll refinance - but they’ve already gained equity thanks to value growth in the area.

Activities to Explore While You’re House Hunting

Buying a home in Idaho should also feel exciting, not just analytical. If you’re visiting the Treasure Valley to tour communities, make time to enjoy what makes this place so special:

• Boise River Greenbelt: Miles of scenic walking and biking trails. Learn More
• The Village at Meridian: Shopping, dining, and family-friendly events. Visit Site
• Bogus Basin Mountain Recreation Area: Skiing, tubing, and summer mountain biking. Explore
• Eagle Saturday Market: Local produce and artisan vendors. Discover
• Indian Creek Plaza (Caldwell): Live concerts and winter ice skating. Check Events

The Emotional Side of Timing the Market

The “What If” Trap

Many people wait out of fear of making a mistake. But trying to time the real estate market perfectly is like timing the stock market - it’s nearly impossible. Focus on what you can control: your finances, your goals, and your long-term timeline.

The Peace of Owning

Owning a home gives you control over your space and costs. You’re not at the mercy of rent hikes or landlord decisions. That stability has real emotional and financial value.

The Freedom to Create a Home

When you own, you’re not just buying walls - you’re creating a life. You can paint the walls, plant a garden, add a fire pit, and build memories that renting simply doesn’t offer.

How to Decide If You Should Buy Now or Wait

Step 1 - Clarify Your Timeline

If you plan to stay in Idaho for 3 years or more, buying now often makes sense. If you’re unsure of your job or move plans, it might be better to wait.

Step 2 - Evaluate Your Financial Health

Talk with a trusted local lender to review your credit, down payment, and debt-to-income ratio. Sometimes small tweaks can make a big difference.

Step 3 - Calculate Total Cost, Not Just Rate

Look beyond the interest rate. Consider builder incentives, price trends, and long-term equity.

Step 4 - Partner with an Experienced Local Realtor

Boise’s market behaves differently than national averages. A local expert who knows builder incentives, off-market listings, and upcoming communities can save you thousands.

Final Thoughts: The Right Time Is When It’s Right for You

If you’re waiting for the “perfect time” to buy, you’ll probably be waiting forever. There will always be new headlines, rate changes, and predictions.

But here’s what I’ve seen firsthand: the buyers who win are the ones who make strategic moves, not emotional ones.

If your finances are in order, you plan to stay put for a few years, and you’ve found a home that fits your life, it might be smarter to buy now and refinance later. If you’re not ready yet, that’s okay too. Use the time to prepare so when opportunity knocks, you’re ready to move confidently.

Either way, my team and I are here to help you evaluate your options, run the numbers, and decide with clarity - not pressure.