Should You Wait or Buy a House in 2025? | Housing Market Forecast 2026 | Cherokee County Real Estate Insight

Nov 7

In today’s evolving housing market, one question looms large for homebuyers: Is it smarter to buy now or wait until 2026? With mortgage rates around 6.1% and median home prices at $395,000, it’s a tough call—but not an impossible one.

In this post, we’ll break down the real numbers behind the “wait or buy” decision, explore the 2026 housing market forecast, and highlight what these trends mean for buyers in Cherokee County and across North Georgia.

The Current Landscape: Why Buying Today Feels Tough (But Might Pay Off)

As of November 2025, the U.S. housing market has entered a stabilization phase after several years of volatility. Inventory is up about 9% year-over-year to 2.1 million homes, easing competition slightly but affordability remains a challenge.

Here’s the snapshot:

Mortgage Rates: Averaging 6.11% (Zillow data), down from highs near 7% earlier this year. That’s about $2,400/month on a $395,000 home with 20% down.
Home Prices: The national median sits at $395,000, up 3.4% year-over-year (Cotality HPI).
Rents: Average monthly rent for a two-bedroom apartment is $1,671 (HUD data), or about $2,018 for a single-family home (RentCafe).

In Cherokee County, the local market mirrors the national picture, moderating price growth, slightly higher inventory, and steady buyer demand, especially for move-in-ready homes under $500K.

Pros of Buying Today:

Lock In Before Rates Rise Again: Analysts at Fannie Mae suggest that while rates may dip slightly next year, inflation risks could reverse that trend.
Build Equity Early: Homeowners added over $1.5 trillion in equity nationally in 2024. Even modest appreciation adds up over time.
Tax Advantages: Mortgage interest and property tax deductions can offer significant annual savings.

Cons of Buying Today:

Upfront Costs: Expect around 2–5% in closing costs, plus a median 9% down payment for first-time buyers.
Maintenance & Insurance: Budget roughly 1–2% of your home’s value annually for upkeep and coverage.
Opportunity Cost: Money used for a down payment could otherwise earn 6–7% in the stock market.

What If You Wait? The Case for Renting (and Potential Regrets)

Waiting might sound wise if you’re hoping for lower rates, but most forecasts suggest only a gradual decline 6.4% by the end of 2025, dipping to 5.9% by late 2026 (Fannie Mae).

Home Prices: Forecasted to rise another 2% next year, pushing the median price toward $403,000.
Rents: Expected to increase 3.5% annually, even as new apartment construction slows.
Inventory: While more homes are hitting the market, experts still expect a “soft landing,” not a price drop.

Bottom line: If you plan to stay in your home for five years or more, buying now often builds more equity than renting, even with today’s rates.

Regional Snapshot: How North Georgia Compares

In Cherokee County and the broader North Georgia area, trends are balancing out:

Home prices are up about 2–3% year-over-year, but still below the national median.
Buyer activity has picked up for well-priced homes, especially in Canton, Woodstock, and Holly Springs.
New construction is offering some inventory relief, but often at higher price points.

Final Thoughts: Think Long-Term, Not Headlines

If your goal is long-term stability and wealth building, buying a home in 2025, especially in a steady market like Cherokee County, could be the smarter move. But if flexibility or short-term savings matter more, waiting and renting might fit better.

If you’re wondering how these trends affect your neighborhood or price point here in North Georgia, let’s connect.

Let’s talk about your unique situation.

We’re Greg and Jacquee Hart with Hart Realty Partners, your trusted real estate advisors in Cherokee County and across Georgia. Whether you prefer a call, text, DM, or email, reach out in the way that works best for you, and let’s create a strategy tailored to your goals.

Sources: Freddie Mac, Zillow, Fannie Mae, NAR, HUD, RentCafe, Redfin, and Cotality HPI (Data as of November 3, 2025).