Is Now a Good Time to Buy a House in Des Moines? What Buyers Need to Know Before 2027

October 2026 | Des Moines Metro Real Estate Market Update

If you've been thinking about buying a home but keep finding yourself saying, "Maybe I'll wait until next year," you're definitely not alone.

Between mortgage rates, home prices, and the endless stream of conflicting headlines, it's understandable why so many buyers are hesitant to make a move.

But here's something worth knowing: The Des Moines housing market is changing, and some of those changes could work in your favor as a buyer.

Does that mean everyone should rush out and buy a house? Absolutely not.

It does mean that if homeownership is something you've been considering, now might be a good time to explore what's possible.

Let's talk about what's actually happening in our local market and what it could mean for you.

1. Buyers Have More Homes to Choose From

For the past several years, buyers have faced a challenging combination of limited inventory, rising home prices, and intense competition.

Remember when homes were receiving multiple offers within days, sometimes before buyers even had a chance to schedule a showing?

While desirable, well-priced homes can still move quickly, we're seeing more opportunities for buyers to take their time and make thoughtful decisions.

According to the Des Moines Area Association of REALTORS®, the metro had 4,702 active listings in August 2026, giving buyers more options as we moved into fall. More inventory doesn't automatically mean lower prices, but it can mean something equally valuable: choice.

Instead of feeling pressured to make an immediate decision, buyers may have more opportunities to compare properties, evaluate their options, and find a home that truly fits their needs.

And that's a welcome change.

2. Mortgage Rates Are Still a Factor, But They're Not the Whole Story

Let's address the elephant in the room: interest rates.

As of October 22, 2026, the national average 30-year fixed mortgage rate was approximately 7.32%, according to Freddie Mac.

There's no denying that mortgage rates affect affordability. Even a small change in your interest rate can make a noticeable difference in your monthly payment.

But waiting for rates to drop isn't necessarily a guaranteed money-saving strategy.

Here's why.

If rates decrease, more buyers could decide to enter the market. Depending on available inventory, that additional demand could increase competition for desirable homes.

On the other hand, buying now only makes sense if the payment is comfortable for your financial situation today.

The goal shouldn't be to buy a house based on the hope that rates will improve. It should be to make a decision that works for your life and budget right now.

A conversation with a trusted local lender can help you understand your purchasing power, estimated monthly payment, and financing options before you ever step inside a home.

3. Buyers May Have More Room to Negotiate

One of the more encouraging changes in today's market is that buyers may have opportunities to negotiate terms that were much harder to secure during the most competitive years.

Depending on the property, its condition, its asking price, and how long it's been on the market, those opportunities might include:

• Negotiating the purchase price.

• Requesting seller contributions toward closing costs.

• Asking for repairs or other concessions following inspections.

• Exploring builder incentives on new construction.

• Negotiating possession dates or other contract terms.

  
  

Of course, every property is different.

A beautifully maintained home priced appropriately in a popular neighborhood may still attract significant interest. Meanwhile, a property that's been sitting on the market could present a very different opportunity.

This is why understanding the local market matters.

The negotiating strategy that works for a $225,000 home in Des Moines might look completely different from the strategy for a $450,000 home in West Des Moines or Ankeny.

Having someone who understands those differences can help you recognize opportunities while protecting your interests.

4. You May Have More Financing Options Than You Realize

One of the biggest misconceptions about buying a home is that you need 20% down.

The reality?

Many buyers qualify for mortgage options that require significantly less.

But here's something that doesn't get talked about nearly enough: Not all mortgage programs are created equal, and the best option for one buyer may not be the best option for another.

Depending on your financial situation, the type of home you're purchasing, and where it's located, you may have access to opportunities such as:

• Low down payment conventional loans.

• FHA, VA, or USDA financing for eligible buyers and properties.

• Down payment and closing cost assistance.

• Local lending programs that offer additional benefits for purchasing in certain neighborhoods.

• Builder incentives that can help offset some of your upfront expenses.

  
  

For example, Neighborhood Finance Corporation (NFC) offers specialized financing and assistance programs for eligible properties and buyers in designated Des Moines-area neighborhoods.

Some programs may even provide funding for improvements to your new home.

But it's important to look beyond how much assistance a program offers. Interest rates, repayment requirements, closing costs, and long-term affordability all matter when evaluating your options.

The best financing option isn't necessarily the one offering the most assistance. It's the one that makes the most sense for your financial situation and homeownership goals.

That's why connecting with knowledgeable local professionals early in the process can be so valuable.

You don't have to know which loan program you need or even whether you qualify for assistance before reaching out.

Sometimes, the first step toward homeownership is simply finding out what's possible.

5. Should You Buy Now or Wait Until 2027?

Here's the question we hear all the time.

And the answer?

It depends.

Not because we're avoiding the question, but because buying a home is a personal decision, and your circumstances matter far more than any national headline.

Buying sooner might make sense if:

• You have stable income and feel comfortable with the monthly payment.

• You have savings available for the upfront costs and unexpected expenses of homeownership.

• You're planning to stay in the area for several years.

• You've found a home that meets your needs and fits your budget.

  
  

Waiting might be the better decision if:

• You're still working toward a comfortable financial position.

• Your employment or living situation is likely to change.

• You're uncertain about your long-term plans.

• Purchasing right now would stretch your finances too thin.

  
  

There's nothing wrong with either decision.

In fact, sometimes the most valuable thing a real estate professional can do is help someone recognize that waiting is the right choice. But waiting doesn't mean you can't start preparing.

6. Not Ready to Buy Yet? Here's Where to Start.

You don't need to be ready to purchase a home next month to benefit from having a conversation today.

If buying a home is on your radar for 2027, there are things you can do now to make the process easier when the time comes.

Start by understanding your finances, exploring financing options, learning about different neighborhoods, and identifying what matters most in your future home.

You can also connect with a local real estate professional who can explain the buying process, help you understand current market conditions, and answer questions along the way.

The earlier you start learning, the more prepared you'll feel when you're ready to make a move.

And buying a home should feel like an informed decision, not a leap into the unknown.

So, Is Now a Good Time to Buy in Des Moines?

For some buyers, it absolutely could be.

More available homes and potential negotiating opportunities are creating possibilities that weren't always available in recent years.

But the best time to buy isn't determined by a headline, a mortgage rate prediction, or what someone on social media says you should do.

The best time to buy is when the decision makes sense for you.

And figuring that out doesn't have to be overwhelming.

Curious What Buying a Home Could Look Like for You?

At the Sara Hopkins Real Estate Team, we believe the homebuying process should begin with understanding, not pressure.

You don't need to know exactly what you can afford, have your dream neighborhood picked out, or even know when you're ready to move.

We're here to help you ask the right questions, understand your options, and make decisions with confidence.

Whether you're hoping to buy before the end of 2026, planning ahead for 2027, or simply wondering what's possible, we'd love to help.

Let's start with a conversation, not a commitment.