The home prices are on the rise and you may not even have to wait as you can begin the process. It may takes months to get into escrow and then close a purchase within 30 days. You may qualify from a minimum 580 fico score and 3.5% down or as low as half percent down payment program. If you have a minimum 660 fico score you may consider 5% down conventional with NO Mortgage insurance (Lender paid MI) or minimum 700 fico score may qualify for 3% down conventional. It only takes a few dozen questions to qualify you in minutes.
Here is a needs list to gather for processing a loan approval, DU Approval or pre-approval letter to get out shopping for a home of your choice. http://tinyurl.com/l9ctod4
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With the mortgage interest rates at its historical lowest and house inventories getting lower, speculation should not interfere with your decision.
Best of Luck.
I wouldn't worry about price increases as much as I would be concerned with a potential rise in interest rates if the economy gains strength. That will make a bigger difference than price increases over the long term. If you are thinking of buying in the summer that is so close that I don't think you will see very much change in prices over that short term. This year there is a real shortage of inventory so I would start looking as soon as you are able. If you wait until your optimal time to buy, the right home for you may not be out there. Homes move very fast if they are well priced and in good condition. Let's talk some more about what type of home and your price range because that makes a difference too.