Buy in a buyers market or wait for interest rates to go down and prices to go up?

[Nadia Daggett]

As the broker of Investing N Florida, I frequently encounter clients who prefer to wait for interest rates to decrease before purchasing a home. With your experience, would you recommend buying a home now at a higher interest rate with a $100K price reduction in a buyer's market, or waiting 6 months for lower interest rates and the potential return of bidding wars?

[Eric James]

To me the interest rates are a minor issue. The main issue is that we are way overdue for a correction in the real estate market cycle. And unemployment is starting to tick up.