[Mvhsz]

Home prices are likely to go down over the course of the summer in the US, driven by the increasing costs of financing. But macro factors (demographics driving up demand for a limited and slow to expand housing supply) are still present so the price relief could be short lived. Or we could enter a recession that drives home prices down to historic lows, nobody knows.

Mortgage rates are likely to stay elevated for a year minimum, so that’s just reality if you need a place to live in the meantime. Paying the extra monthly cost until rates drop and you can refinance probably still beats renting for that time.