Is Now a Good Time to Buy a Home in Sioux Falls?

Rates are higher, prices are still rising, and everyone has an opinion. So should you wait or buy now?

It’s one of the most common questions I hear. Buyers in Sioux Falls and Harrisburg are asking whether they should jump in now or wait for the “perfect” moment.

And I get it. There’s a lot of noise out there. Rates are a little higher than they were a few years ago. Home prices keep rising. Some people say “wait it out.” Others say “buy before it gets worse.”

So what’s the right move? Let’s clear the air and focus on what really matters.

Timing the market is almost impossible

Even experienced investors struggle to perfectly time the real estate market. If you wait for rates to drop significantly or prices to dip, you could be waiting longer than expected. And when rates do fall, buyer competition tends to increase.

Trying to predict the future often leads to missed opportunities in the present.

Focus on what you can control

Instead of waiting for the perfect market, look at your own situation. Ask yourself:

• Do I have a stable income?
• Am I planning to stay in the area for a few years?
• Do I have a realistic down payment and manageable monthly budget?
  
  

If the answer is yes, then you’re likely in a good position to buy. Waiting might not make your ideal home more affordable, but it could mean paying more later for the same house.

Today's market rewards serious buyers

With fewer casual buyers in the market, motivated buyers are finding more room to negotiate, ask for repairs, or even receive seller credits toward closing costs.

This is a more balanced market than we’ve seen in years, and that creates opportunity for smart, prepared buyers.

The cost of waiting could be higher than you think

If home prices continue to rise, even slowly, you may find yourself needing to stretch your budget further just to get the same property. And if rates don’t drop by much, you’ve gained nothing by waiting.

Buying now gives you the opportunity to refinance later if rates improve, while building equity in the meantime.

Final takeaway

There’s no one-size-fits-all answer to timing the market. But if you’re financially ready, buying now in Sioux Falls can give you stability, equity growth, and a home that truly fits your needs.

Let’s talk through your options and run real numbers, so you can make a confident move with no regrets.