It's a good time to buy if it's the right time for you to buy!
My advice would be to buy when you find a home you love - make sure you're educated as to the recent comparable sales, and know how that home compares to them.
If you find that home now, great - if it takes until later this year, I don't see any problem with that, either. The market in Livingston has held it's own to a great extent, compared to some towns, although prices certainly have depreciated over the past few years - certain prices ranges have fared better than others. I don't anticipate any real appreciation or jump in prices in the near future.
The homes that are selling more quickly are those which have been priced aggressively...where value is clearly preceived.
The ovepriced ones will still sit.
The mortgage rates certainly make buying more affordable and attractive than ever - so, the bottom line is, stay current with what is available, and act when the home is the right one for you!
I just sold a home last week for $1000 over asking price - yet others won't sell until the price has been reduced once or twice. The key is knowing the market!
A "good" deal is in the eye of the beholder.
If you're wokring with someone who knows the market - they can help guide you.
Good luck in your search - certainly, if I can help, feel free to reach out to me.
Prudential NJ Properties