The only honest answer to a question about the direction of market values is that no one has a crystal ball.
The appropriate question for any buyer is not so much whether it is "a good time to buy" in general but rather, would that be the best decision for you as an individual, based on your particular circumstances?
There are actually numerous "Rent vs. Buy" calculators online. You will find that the criteria (input variables) differ among them. One useful exercise would be to experiment with several of the different calculators and see how you come out, using different criteria. Just Google "Rent vs. Buy" to get started.
Ultimately, it's a personal decision based on your own individual considerations. Certainly, if you don't plan to live in the house for at least a few years, "costs of sale" may put you in the negative when you sell.
A good loan consultant/financial advisor and real estate agent could help you arrive at a wise decision.
Pacific Century Realty
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