Is It Better To Buy Now or Wait for Lower Mortgage Rates in Reston?
If you live in or around Reston, you’ve probably asked the same question as everyone else: should I buy now or wait for rates to drop? Mortgage rates just dipped to their lowest level of 2025, and that has a lot of buyers peeking back into the market. The catch is simple. When rates nudge lower, more people jump in. Around here that can mean faster offers and fewer choices.
Where Mortgage Rates Are Today
As of August 14, the average 30-year fixed rate is 6.58% according to Freddie Mac’s Primary Mortgage Market Survey. Many forecasts expect rates to hover in the mid to low 6s through 2026. Fannie Mae’s Economic and Housing Outlook currently projects about 6.4% by the end of 2025 and roughly 6.0% by the end of 2026. (Freddie Mac, Fannie Mae)
Why 6% Matters So Much
Nationally, 6% is the “go” number for a lot of buyers. The National Association of Realtors estimates that if rates hit 6%, about 5.5 million more households could afford the median-priced home, and roughly 550,000 would likely buy within 12 to 18 months. If we get there, expect buyer traffic to pick up quickly in Northern Virginia. (National Association of REALTORS®)
Northern Virginia Snapshot: More Options Than Last Year
The July report from the Northern Virginia Association of Realtors shows a market that’s loosening compared to last year:
Active listings up 43.4% year over year to 2,530
Months of supply up to 1.9
Median sold price up 3.4% to $760,073
Average days on market up to 20
This is exactly the kind of environment where Reston and nearby neighborhoods offer more selection and a little breathing room. You can look at the weekly Greater DC tracker from Bright MLS to see how supply and demand are shifting week to week.
Reston Real Estate Reality Check
Inventory is improving, but it’s still below what we’d call balanced. In Reston, condos near Metro, lakefront townhomes, and single-family homes in South Lakes and North Point each move at different speeds. When rates tick down, the most walkable, updated, or water-adjacent homes see the rush first. If a home in The Shores on Lake Audubon or around Reston Town Center checks your boxes, having a plan in place before rates fall further can make the difference.
Buy Now vs. Wait: The NoVA Tradeoff
If you buy now in Reston or nearby:
More selection than last year, with less head-to-head competition
Better odds of negotiating on price, contingencies, seller credits, or a rate buydown
Ability to refinance later if rates move meaningfully lower
If you wait for 6%:
More buyers enter at once, which can mean fewer choices and quicker timelines
Prices can firm up as demand returns
Monthly payment improves if prices hold, but that’s a big “if” when demand jumps
Practical Tips for Local Buyers
Talk to a local lender about a temporary or permanent rate buydown and compare that to the value of a price reduction in today’s terms.
Get fully underwritten now so you’re ready to move on the right Reston property when it hits.
Watch neighborhood-level trends, not just countywide headlines. NVAR’s monthly stats and Bright’s tracker are helpful starting points. Freddie Mac’s survey is the cleanest way to track the national rate trend, and Fannie Mae’s outlook shows where economists think we’re headed. (Freddie Mac, Fannie Mae)
Bottom Line for Reston and Northern Virginia
Rates may not hit 6% this year. If they do next year, expect company. Right now, Northern Virginia offers more choice and more room to negotiate than we’ve had in a while. If you want less pressure and a shot at a better deal, this window is open today.
Suggested Headlines
Buy Now or Wait in Reston? What Lower Rates Could Mean
Reston Real Estate: Should You Wait for 6% Mortgage Rates
Northern Virginia Buyers: The Case for Moving Before Rates Drop
Reston Housing Update: Inventory Is Up, Rates Still in the 6s
Reston vs. Waiting for 6%: A Local Guide to Timing Your Purchase
Meta Descriptions (≤160 characters)
Reston buyers: see why today’s inventory and rates in the 6s may be your opening before 6% brings more competition.
Northern Virginia update on rates, inventory, and the tradeoff of buying now vs. waiting for 6%.
Should you wait for 6% in Reston? Local data and tips to help you decide.
Rates dipped and NoVA inventory grew. Here’s what that means for Reston buyers.
A Reston-focused look at mortgage rates, NVAR stats, and the best time to buy.
Sources used for rates and local stats include Freddie Mac, Fannie Mae, NAR, and NVAR’s July 2025 market report. Links are embedded above for easy reference. (Freddie Mac, Fannie Mae, National Association of REALTORS®)
If you want this tailored to a specific Reston segment like lakefront townhomes or Metro-adjacent condos, tell me which niche and I’ll tune the examples and keywords.
