Rebecca the real question for you to ask your family is who is the real estate agent in the family, and who is the mortgage professional. Family and friends love to offer their opinion, but it is often wrong. For a buyer right now the mortgage rates have remained low, and inventory is high creating competition. It is truly a great time to buy. Your family may be right that prices MAY be lower in a year, but will the rates be as low as they are now....probably not, and what happens if we pull out faster than expected you will be paying more at a higher rate, and the place you love won't be there anymore. I don't mean to scare you, but if you see a place that you love, and the payments are within your price range, then there is no time like the present. You arn't buying a stock or a bond, but a home that you will spend every day in for years to come. Hope that helps.