Should You Wait to Buy a Home? What Experts Say About a Possible Recession

Homebuyers are watching the economy closely — and for good reason. Purchasing a home is one of the biggest financial decisions most people ever make. And with recession talk popping up in the media, many would-be buyers are beginning to second-guess their plans.

According to the latest LendingTree survey, nearly 2 in 3 Americans believe a recession is coming, and 74% say that fear is affecting their financial decisions.

But here’s the surprising part: most experts aren’t nearly as concerned.

Most Americans Expect a Recession — But Most Experts Don’t

An October report from the Wall Street Journal found that only 1 in 3 economists think we may face a recession in the next 12 months. That means the majority of experts aren’t expecting a downturn right now. (see graph below)

So, if the pros aren’t worried, should you be?

The truth is, we’re not in a recession today, and there’s no guarantee one is coming. What we do have is uncertainty — and the best way to handle that is to rely on facts, not fear.

Your Life Matters More Than Headlines

While it’s smart to stay aware of what’s happening economically, your personal needs should carry more weight than the news cycle.

Danielle Hale, Chief Economist at Realtor.com, puts it perfectly:

“Well-prepared buyers who have been waiting on the sidelines are likely motivated by personal and lifestyle needs like growing families, new jobs, or retirement. And these considerations can outweigh short-term economic uncertainties . . . ”

Life changes don’t wait for perfect economic conditions. And neither should your plans — as long as you’re financially ready.

Tips for Buying a Home During Economic Uncertainty

If you’re thinking about buying right now, here are expert-backed guidelines to keep you grounded:

1. Prioritize Job Stability

Feeling confident in your income is essential. You should be sure you can handle your monthly mortgage even if rates or expenses shift.

2. Set a Realistic Budget

Redfin economists stress the importance of sticking to a budget that won’t stretch you thin. Factor in rising costs like insurance, taxes, and maintenance.

3. Take Advantage of Negotiation Power

With more homes on the market and some buyers hesitating, you may have more room to negotiate on price, repairs, or closing costs.

4. Be Strategic With Mortgage Options

Talk to multiple lenders about today’s rates and future possibilities. You may be able to refinance later if rates drop.

5. Consider Selling Before You Buy

If you already own a home, selling first can give you clarity on your budget and reduce financial stress.

Above all, your support team matters now more than ever. As Bankrate says:

“Buying a home during a recession can sometimes be a good idea — but only for people who are lucky enough to remain financially stable . . . Be sure to enlist the help of an experienced local real estate agent.”

Bottom Line

Most Americans fear a recession. Most experts don’t.

So if your finances are solid, your job is secure, and you have a real need to move, you don’t have to put your plans on pause. With the right information and the right team, you can make smart decisions in any market.

What’s holding you back from making your next move?
Connect with a trusted local agent and lender to talk through your options and make a confident plan forward.