How do you know if it's a good time to buy a home? There are 3 questions you should be asking.  - Are you planning on staying in the area for at least 3 years? - Do you have enough money to make a down payment? - Is there an opportunity to find a home with a monthly payment you're comfortable with?  If you answered 'yes' to any of these, then it's worth looking for an opportunity to buy in today's market.