Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up.  Contrarily, when home sales decrease, demand could lessen and prices moderate.  There is opportunity with higher rates because it affects sales and demand, which in turn keeps prices in check.  By waiting for rates to come down, and no one knows by how much but certainly not to the 3-4% range, buyers' pent-up demand will affect the already low supply and cause prices to increase. Let's look at a scenario where you could buy …