It’s an unnerving, disorienting time for would-be homebuyers. In many popular neighborhoods, prices are still rising, and competition for scarce properties remains intense. This is causing some to postpone a purchase.

Take the true story of an income-limited couple in their late 20s who desperately want to move from a fourth-floor apartment to a detached house with a fenced yard for their dog. Indeed, they recently found a place to their liking and put in an offer. Yet after losing out to seven other bidders, they felt so discouraged they dropped out of the market entirely.

“These buyers have moved to the sidelines for six months at least,” says Ashley Richardson, the Long & Foster real estate agent representing the couple.

Is it wise for most motivated buyers to step back from the market in hopes that prices will at least plateau for a while? Richardson thinks not.

She reasons that given demographic trends -- and the reality that millennials are now in their peak homebuying years -- demand for property will remain strong and prices should continue to advance, even if currently low mortgage rates rise.

“Yes, the market is super-tight, but more listings should be available this summer for those who hold out,” says Richardson, who is affiliated with the Residential Real Estate Council (crs.com).

Economists who track housing markets are uncertain whether price gains will ease somewhat as inventory levels gradually begin to improve. One such economist is Danielle Hale of Realtor.com, the home listing company.

“Prices are still continuing to rise, and homes are selling quickly, thanks to still-limited inventory,” Hale says.

Given the conflicting trends in the overall housing market, it’s not surprising that aspiring buyers are conflicted in their own assessments as to whether now is a good time for a purchase.

According to a Gallup Poll conducted this spring, 71% of U.S. adults expect the average price of houses will increase by next year. Only 10% believe home values will decrease.

At Fannie Mae, the national mortgage company, a survey index that tracks homebuyer sentiment reflects a recent decline in optimism

“Unsurprisingly, respondents overwhelmingly cited the lack of supply and high home prices as primary reasons for their pessimism,” says Doug Duncan, Fannie Mae’s chief economist.

Of course, all buying decisions are personal, and market conditions vary depending on the target community where you hope to buy. That’s why real estate specialists urge would-be purchasers to factor in their own preferences before deciding when to seek a home and how much to spend.

Here are a few pointers for buyers:

-- Consider your household economics before setting buying plans.

Would buying a well-priced home in a strong neighborhood be a good financial bet for your household if your monthly mortgage payments are more than you can afford? Absolutely not, says Eric Tyson, a personal finance expert and co-author of “Home Buying for Dummies.”

Despite stiff lending standards, he says it’s still possible for many buyers to qualify for a larger mortgage than their family finances warrant, thereby placing them at risk of a future default. That’s because your lender knows less about your obligations and spending habits than you do.

Before committing to any home purchase, it’s always smart to review your budget and assess your level of employment security. Is your current job at risk? Do you have easily marketable skills that would allow you to quickly get another job if you had to?

-- Investigate the area where you’d like to buy.

As good as they are, national forecasts are of less value to you as a would-be buyer than is information that helps you assess the relative strength of the area where you’re contemplating a purchase.

To locate the parts of your metropolitan area that have the best prospects for future appreciation, Tyson suggests you start with a regional map. On this, pinpoint major employers -- such as corporate headquarters and military bases -- where jobs are expanding. Locate communities with top public schools. Also, identify neighborhoods served by public transit lines.

-- Scope out neighborhood property values before you bid.

Researching relative property values before you put in an offer on a home is critically important in the current market environment, says Fred Meyer, a veteran real estate appraiser and broker.

“As always -- but especially now, with home prices changing dynamically -- it’s imperative you develop a knowledge of price trends in your area, including the most recent sales,” Meyer says.

But data on comparable sales won’t give you the whole story. These days, you also need numbers to track the direction of the market -- whether prices are heading up, down or sideways. Ask your agent to give you data on the median price of a home sold this past month versus the month prior. Also ask for median price comparisons on an annual and yearly basis. These statistics should give you a good feel for the trend. Use these data when crafting a bid for a property you like.

“No matter how competitive the market, it’s always worth the effort to do your research,” Meyer says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Last year, a couple in their 30s -- a professional puppeteer married to a graduate student -- moved to a two-bedroom city condo. The purchase by the income-tight couple was largely thanks to the couple’s parents, who doted on their 2-year-old grandson.

The young family had planned to stay in the condo for years. But that was before COVID-19 and the birth of their second child. Suddenly, the condo felt extremely crowded.

“Quarantine taught us we really need a whole lot more space. For months we’ve been smashed together and dreaming of a house with a big kitchen and a yard where we could raise puppies,” the husband says.

Again with a promise of help from their parents, the couple recently began laying plans to sell their city condo in favor of a suburban property with at least 2,500 square feet of living space. Their first step involved calling a trusted real estate broker for advice.

“The broker told us there has literally never been a better time in history to sell residential property because right now there’s a pitiful shortage of available homes. But she also told us that to get top dollar, we’d have to hurry to prep our condo for market while sellers still rule,” the husband says.

Danielle Hale, chief economist for Realtor.com, the home listing service, doesn’t know the family in this true story. But she understands their urge to sell promptly, given the dramatic rise in property prices. Indeed, median list prices for homes are now 18.7% higher than last year, marking 35 consecutive weeks of double-digit price growth.

“For sellers, getting in early optimizes odds of a quick sale at a good price before there’s too much competition,” Hale says.

Still, the family in this example has plenty of work to do to ready their 90-year-old condo for market. Their floors need refinishing, and their kitchen cabinets need repainting. But a still more laborious task awaits the family: decluttering their place, which is crammed with children’s toys, baby items, books, kitchen gear and other possessions.

Virginia Barkley, a professional organizer and author of “Clutter Busting for Busy Women,” recommends that would-be sellers call in reinforcements to help make their property show-worthy.

“It makes a huge difference to get outside help with such a big undertaking,” she says.

Barkley, who previously worked in the deadline-oriented field of film and television production, says the key to a successful home-streamlining project is to plan ahead and maintain a positive attitude.

“You have to set a drop-dead deadline for yourself. And every single day you have to remind yourself of your vision for the future,” she says.

Here are a few tips for sellers:

-- Face the reality that decluttering is essential.

Eric Tyson, co-author of “House Selling for Dummies,” says would-be sellers who fail to downsize their possessions are at risk for substantial penalties.

“Even now, buyers are tremendously resistant to any place loaded with too much stuff because they can’t picture themselves living there,” Tyson says.

Many people are still living in their home while it’s on the market. Still, Tyson says it’s critically important that they pack away excess belongings until the property is sold.

If you need more motivation, Tyson recommends you call in a moving company for an estimate on the cost of hauling all your unsorted belongings to your new location.

“The cost to transport all your stuff should be enough to motivate you through the purging process,” he says.

-- Don’t attempt to declutter more than one room at a time.

Martha Webb, an expert on home staging, says you’ll go crazy if try to battle clutter on several fronts simultaneously. Instead, she counsels you to take on just one space at a time, starting with your master bedroom and clearing out closets in this room first.

“Having ample storage, including large closets, is a huge issue for contemporary buyers. ... Once you’ve cleared out enough, you should be able to see the back wall of your closets,” says Webb, the author of “Dress Your House for Success.”

-- Dedicate special attention to your kitchen.

Webb says most home shoppers won’t routinely look inside the furniture that stores your clothes. But many will open your kitchen cabinets.

“The last thing you want is for buyers to see a kitchen so crammed with items that they’ll think it lacks sufficient space for their own dishes and food,” she says.

After you’ve removed all the superfluous items from your kitchen storage areas, clean out the cabinets and replace only those pieces you absolutely need for everyday use.

-- Show respect when clearing children’s bedrooms.

Young children feel an understandable sense of alarm at the notion that many of their toys will be packed up and put away until your move is complete.

How can you calm your children’s fears? Webb suggests you transform the process into a game.

“Tell the children they can choose a few special toys and books to keep in their rooms until the move occurs. Mention that they can use these items -- along with the ones you’re putting in boxes -- for a ‘toy party' in the new house,” she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

For many who aspire to buy a first home or transition to a larger place, 2020 was a year of extraordinary frustration, as wannabe owners attempted to fight off rivals seeking the same few properties. What’s more, there’s been little letdown from this misery in the early months of this year.

“The craziness goes on and on. The bidding wars are so ferocious that people who lose homes emerge from the fights with emotional scars and lots of tears,” says Tom Early, an independent real estate broker.

The obvious problem is that “the supply/demand ratio between the number of available properties and eager buyers is way out of whack,” says Early, a past president of the National Association of Exclusive Buyer Agents (naeba.org).

This imbalance has sent home prices soaring, according to the widely quoted Case-Shiller home price index. For the 12 months ending in February, prices rose a sizzling 12%. Meanwhile, the stock of available properties has increased ever so slowly.

Yet relatively few young families who wish to make a major real estate purchase are backing off from their quest, despite the intense competition. Indeed, housing economists expect the number of would-be buyers to increase in coming months due to demographic trends.

Nadia Evangelou, the director of forecasting for the National Association of Realtors (nar.realtor), predicts that housing demand will continue to swell as household formations increase among those in the millennial generation (born between 1981 and 1996).

To underscore her point, Evangelou notes that in 2022 alone, 4.6 million millennials will reach the typical age to marry.

“Both low mortgage rates and favorable demographics will continue to boost homebuying activity for at least the next couple of years,” she says.

In reality, many young families refuse to put their housing dreams on hold indefinitely and rightly so, says Eric Tyson, a personal finance expert and co-author of “Home Buying for Dummies.”

“Clearly, most young families have income limits. But enterprising people find ways to temper their expectations in order to actualize their home-buying plans,” Tyson says.

Here are a few pointers for buyers:

-- Let go of the need for formal rooms.

Tyson says it’s more vital for families with young children to have a floor plan that encourages togetherness than to own a large house, especially now as more children return to classroom instruction and kids spend less time at home.

“Many people only use a formal dining room on major holidays such as Thanksgiving. But a family room connected to an eat-in kitchen is used all year long,” he says.

Large, comfortable common rooms -- often called “great rooms” -- help draw children out of their bedrooms, thereby allowing parents to monitor their kids at homework time, for example.

-- Seek a property with as many bedrooms as you can afford.

Newly built houses with a wealth of living space typically feature spacious master bedroom suites. In such houses, secondary bedrooms, designed for children and guests, are usually much smaller.

But Tyson says it’s more important for families to have an adequate number of bedrooms than a luxurious master suite.  

“Nowadays, most buyers really want a separate bedroom for every kid, so all the children can get enough sleep, even if they have different school schedules,” he says.

-- Realize that two-story houses usually give you more space for the money.

It’s true that many buyers favor single-level living, including those who’ve hit middle age or beyond and wish to not rely on stairs.

But Tyson says people with school-age children might wish to consider the advantages of living on two levels. That’s because it’s easier to contain the noise and mess of growing children if their bedrooms are separated from the family’s common living space.

With a two-story house, parents can entertain guests on the first level while their kids are playing upstairs. Also, young families can typically get more space for the money in a two-story house.

“Because two-story houses require less land, you usually get more house for the same price,” Tyson says.

-- Question the assumption that your kids need a big yard.

Recalling their own carefree childhoods, some parents assume their kids need a similar setting to be happy. But what was important in your formative years isn’t necessarily vital for your children now.

“These days, children are much more heavily scheduled with sports, lessons and numerous other activities,” Tyson says.

Rather than focusing solely on yard size, Tyson suggests you think about the outdoor features of the neighborhood as a whole, such as parks and open space.

Surprisingly, neighborhoods where yards are smaller are often more child-friendly than those with oversized grounds.

“It’s good for children to live close to their neighborhood friends. That way they don’t have to be driven around to see playmates,” Tyson says.

-- Don’t succumb to pressure from your kids.

It’s not uncommon for children to protest their parents’ decisions regarding a home purchase.

To mollify their unhappy children, some parents let their kids influence which property they buy. But most children adapt quickly, and letting their feelings sway your planning could be a regrettable mistake.

“Maybe your children like one house better than another because it has purple bedrooms. But that’s no basis on which to make so major a financial decision,” Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)