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You Missed the Best Time to Buy—Now What?

March 03, 2025•2 min read

Let’s be real—2020 was a great time to buy a home. Prices were lower, and mortgage rates were sitting at 2.84%. But if you didn’t buy then, you’re not alone. Many people hesitated, waiting for the “perfect” time to enter the market.

Now, home prices are higher, rates have fluctuated, and some buyers are still waiting. But here’s the truth: there is no perfect time to buy—only the right time for you.

Barbara Corcoran [@barbaracorcoran] puts it:

"The perfect time to buy a house? When you can afford the down payment—not when you’re waiting for the ‘perfect’ market."

Barbara Corcoran discussing home buying advice in an Instagram video. She emphasizes that the best time to buy a home is when you can afford the down payment, rather than waiting for the 'perfect' market. The post includes hashtags #RealEstateTruths #RealEstate #Advice #HomeBuyers.

The Market Has Moved—And It’s Not Waiting for You

Here’s how Canadian home prices have changed over the years:

Table showing average home prices and 5-year fixed insured mortgage rates from 2020 to 2025 (projected). Highlights include a price increase from $509,590 in 2020 to a projected $670,064 in 2025, with mortgage rates fluctuating from ~3% in 2020, dropping below 2% in 2021, and rising to ~6% in 2023 before settling at ~4.5% in 2025.

Prices skyrocketed from 2020 to 2022, driven by record-low interest rates.

The market dipped in 2023, but it’s already rebounding.
CREA forecasts home prices will rise another 3.3% in 2026 to $746,379.

Barbara Corcoran [@barbaracorcoran] and other real estate experts agree: waiting often costs buyers more in the long run.

Interest Rates Fluctuate—Home Prices Keep Rising

If you’re holding off because of interest rates, here’s what you should know:

Rates are already lower than their peak. After hitting 5.94% in late 2023, they’ve dropped to around 4.5% today (depending on the lender and mortgage type).
When rates drop, prices rise. More buyers enter the market, increasing demand and pushing home values higher.
Historically, home prices always increase over time. Even after temporary dips, the long-term trend is up.

Graph showing home price trends (not seasonally adjusted) from 2014 to 2024. The chart highlights price fluctuations, a general upward trend, and key spikes post-2020. A red trendline illustrates long-term home price growth, emphasizing real estate appreciation over time.

The key takeaway? You don’t wait to buy real estate—you buy real estate and wait.

Play the Long Game—Not the Waiting Game

Barbara has seen it all, and she knows that getting into the market when you can afford it is more important than waiting for the “perfect” time. Here’s why:

Equity Growth – The longer you own, the more your home appreciates and builds your wealth.
Market Stability – Short-term dips happen, but history shows that prices always recover.
Wealth Creation – Real estate remains one of the best long-term investments for financial security.

If you’re still waiting, ask yourself: Will homes be cheaper five years from now? The data says no.

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Let’s talk about getting you into the market—before prices rise even more.