The the answer to the question above is not the same for everyone. There are dozens of factors for each individual.

Below are some tips that may be helpful to you.

Buy House Now

•    If you own your own home, you don’t need to worry about rent increases or having to move out at a moment’s notice.
•    Living in your own home rather than a rental property means your income goes towards paying off your own mortgage rather than somebody else’s
•    Rents are high
•    While there are plenty of predictions about house prices, we can’t know for certain how much they will fall by, so you could be waiting for a long time for them to hit rock-bottom
•    If you think you will want to stay in your home for at least three years then you may want to buy now
•  Now could be a good time to find a bargain. If a seller wants a quick sale then you might find that being a first-time buyer gives you a greater advantage as you have no home sale to hold up the process

Delay House Purchase

•    While mortgage rates have fallen, they are a little higher than they were a year ago
•    The general consensus is that house prices will fall a little more over the next year, meaning that anyone who buys now risks seeing the value of their first home drop
•    If you’ve only put down a small deposit and house prices fall, you could end up in negative equity. However, this would only be an issue if you wanted or needed to sell your home
•   If you’re able to live somewhere paying little to no rent, for example with family, this can give you more time to save for a deposit. This can give you the option of buying a more expensive property, or increasing your equity in your future home and making you eligible for a cheaper mortgage.

Many experts are predicting that home prices could come down a little more. Keep in mind they are talking about the national market.

Reno is unique - high demand, low inventory and lots of new jobs.