The Real Cost of Waiting to Buy a Home in Southern California

New homes are listed. Rates are shifting. Buyers are hesitating.

If you’re a first-time buyer in Southern California, especially in cities like Riverside, Corona, Eastvale, or Norco, you’re probably asking:

“Should I buy now—or wait and hope the market improves?”

But here’s the truth: waiting could cost you thousands—every single year. This isn’t fear—it’s math. In this blog, I’ll break down exactly what waiting 6 months could cost you, based on real July 2025 data, today’s mortgage rates, and first-time buyer financing.

Let’s dive in.

📊 Market Snapshot – July 2025

• 30-Year Fixed Mortgage Rates:

  → 6.67% average (Freddie Mac PMMS, July 3, 2025)

  → Forecast: May rise back toward 7% later in 2025

• Home Prices in Inland SoCal (Riverside County):

  → Median price: ~$638,000 (CAR – May 2025)

  → Steady 2%–5% YoY appreciation depending on city

  → $700,000 is a realistic entry price in Eastvale, Corona, or Norco

• Inventory Levels:

  → 3.5 to 4.0 months of supply

  → Still a seller-leaning market, though buyers now have more room to negotiate

If you’re waiting for the “perfect moment” to buy… it may already be slipping by.

💵 6.7% vs 7.0%: The Real Financial Impact

We’re comparing:

• Scenario A: Buy now at 6.7% (July 2025 rate)

• Scenario B: Wait 6 months and buy at 7.0%

Assumptions:

• $700,000 purchase price

• 5% down FHA loan

• ~$665,000 loan amount

• 30-year fixed

• Principal & Interest (P&I) only

🚨 Waiting = +$130/mo = +$48,000 Over 30 Years

That’s not including potential home price increases or lost equity growth during those 6 months.

🔻 Lost Purchasing Power

Waiting doesn’t just cost more—it also shrinks your home budget.

If you stick to a $4,300 monthly payment, here’s how your budget changes:

• At 6.7%: You qualify for a ~$700,000 home

• At 7.0%: You qualify for ~$680,000 (same monthly cost)

You might lose that extra bedroom, better school district, or upgraded kitchen—all because you waited.

🧠 Why First-Time Buyers Are Hesitating

• “I want to wait for rates to drop.”

• “I heard prices might crash.”

• “I’m not sure if this is the right time.”

But here’s what the data and real buyer stories show:

✅ Rates are volatile and could easily go higher

✅ Entry-level inventory is moving faster than you think

✅ How to Beat the Market (Even at 6.7%)

If you’re serious about buying, here’s how to protect yourself:

1. Get Pre-Approved Now

   → Know your real budget with current rates

   → Lock in before rates jump again

2. Ask for Seller Credits

   → Negotiate a rate buydown or closing cost help

   → You might get a 2-1 buydown or permanent rate relief

3. Expand Your Target Area

   → Consider Riverside, Norco, or Eastvale instead of pricier cities

   → You’ll get more house for the same monthly payment

4. Stop Trying to Time the Market

   → Date the rate, marry the house

   → Refinance later if rates drop

5. Compare Costs of Buying vs Waiting

   → Text me at (714) 266-3044 and I’ll run a personalized side-by-side

🎯 What Does $48,000 Actually Mean?

Waiting could cost you…

• An upgraded kitchen

• A backyard for your kids

• A second bathroom

• $150/month higher payment—every month for 30 years

• Or losing the home you actually wanted

All because you waited for a rate change of just 0.3%

🔚 Final Word

If you’re financially ready, this may be your moment.

Inland SoCal markets like Riverside, Corona, Eastvale, and Norco still have affordable inventory, and buyers have more room to negotiate than they did 12 months ago.

But rates are bouncing—and time is money.

Want to see your numbers?

📲 Text Abidur at (714) 266-3044

📍 Or visit ochomepartners.com to get a custom cost breakdown and let’s make a smart move together.