Real estate agents say many homebuyers who aspire to larger housing are playing a waiting game.

These are owners who feel cramped in their starter homes. They made it through the pandemic in small, crowded quarters. But many now have growing families -- including a dog or two -- they wish to accommodate. Others seek dual home offices where both partners can have ample space for telework.

But despite craving more square footage, they’re holding off on a trade-up move until later this year or early next year. One major reason is their expectation that mortgage rates could fall more in the coming weeks. Another influence is that the presidential election could potentially affect the economy.

“Elections don’t usually affect real estate sales. But that’s different this year. So many voters think the stakes are high and tax policies could change a lot,” says Mark Nash, author of “1001 Tips for Buying and Selling a Home.”

One nagging concern that’s troubled buyers for several years is the shortage of available properties. But the inventory problem is now reversing as an increasing number of owners are putting their homes up for sale.

Indeed, available inventory has been expanding every week for more than 40 weeks -- with an especially big bump this past week, says Hannah Jones, senior economic research analyst for Realtor.com, the home listing service.

She and other economists are optimistic that home sales will rise by the first quarter of 2025.

“This summer’s housing market was a bit lackluster, but falling mortgage rates may infuse some energy yet,” Jones says.

Housing specialists cite still another factor that could encourage increased home sales activity in the coming months. That’s the sizable pent-up demand for larger properties among starter-home owners.

“One universal among young Americans is their preference for large, open-concept housing,” says Nash, who long sold homes in the Chicago area.

Here are a few pointers for those who wish to acquire a larger home at a fair price:

-- Find out as much as possible about the owner’s position.

“Before making an offer on any property at any time, you’ll want to learn as much as you can about the sellers’ situation. Remember that information is power when you negotiate,” Nash says.

He suggests that would-be purchasers ask their real estate agent to research public records to determine when the present owners bought their house, what they paid and how big a mortgage they took out.

If they bought before the pandemic started in 2020, the odds are good they still have substantial equity, unless they gutted most of that with a big home equity loan or a cash-out refinance.

“Sellers who have positive equity have more latitude for bargaining. They can cut you a good deal and still move away with a check in their pocket,” says Tom Early, an Ohio real estate broker.

-- Have your buyer’s agent ask direct questions to the listing agent.

Listing agents are sometimes surprisingly candid when responding to questions about their clients’ situation.

“If the owners are under extreme pressure to sell, the listing agent may even tell your agent their actual bottom-line price to let the house go,” says Early, a past president of the National Association of Exclusive Buyer Agents (naeba.org).

But what if the sellers are not under duress to sell quickly? That, too, can be useful in setting the pace for your negotiations.

Early, an Ohio real estate broker, recalls clients who were trying to buy an oversized family home from a retired couple who wished to move to their out-of-state vacation property. Because the sellers owned their primary residence free and clear, they could afford to wait. So the clients paced their negotiation with timing in mind, Early says.

-- Hold out for the big price drop on a “stale listing.”

Compared with a year or two ago, many more home sellers are pricing their properties at their true market value, or possibly even slightly below. But even now, there are a few laggards in the group who insist on listing their property at a price that’s too high.

“Some people ... demand more than their homes are worth, even though they have to sell against their will. This is particularly likely among sellers in high-end neighborhoods, who’ve often invested large sums to customize their properties,” Early says.

But eventually, people with financial issues must sober up and sell at a realistic price or see their properties taken away from them through foreclosure.

Have you fallen in love with a princely property that went on the market months ago with a bloated price tag? Are you confident the sellers must move soon and will eventually have to take a drastic price cut to get their place sold?

If so, Early urges you to prepare yourself to submit an immediate bid as soon as its owners face reality and take a major price cut. Make sure you have a preapproval letter from a reputable lender showing you have the income and good credit to go through with the deal.

“Sometimes, high-end sellers have to take a major discount. That’s the exact moment when you should pounce on that property. Jump in with both feet, and you could soon be the owner of the house of your dreams,” Early says.

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

For more than two years, a 39-year-old pharmacist has pondered selling her tiny Tampa condo. She’s put off by Florida’s rising temperatures and wishes to buy a three-bedroom house near her sister in cooler New Hampshire.

But in the midst of a rapidly changing real estate market, the pharmacist is puzzled about how to fulfill her hopes for larger housing. In particular, she worries about finding the best available listing agent to help her attach the right price tag to her small property.

“Condo fees and insurance costs are sky-high in our part of Florida. But that doesn’t mean I’m willing to give away my place at a loss. I need every possible penny out of the property to buy the brand-new house I desire in New Hampshire. That’s why I need an agent to pinpoint the perfect selling price,” the pharmacist says.

Eric Tyson, coauthor of “House Selling for Dummies,” doesn’t know the pharmacist in this true story. But he credits her for her emphasis on finding a listing agent who is an expert in making solid pricing recommendations.

“In the current real estate climate, which is laden with uncertainty, you should beware of agents who try to plump your price above what is realistic. That’s because an over-market price puts you at risk of your property sitting around long enough to get stigmatized,” Tyson says.

Here are a few pointers for homeowners eager to live more spaciously:

-- Get a grounding on your home’s true value.

As always, a few real estate agents might try to flatter you into hiring them by suggesting your property is worth more than it truly is, says Dorcas Helfant, a Coldwell Banker broker-owner and former president of the National Association of Realtors (nar.realtor).

“You don’t want a wishful-thinking answer about your home’s value. You want an agent who is tactful but calls it like it is on pricing. That’s because even after discounts, accurately priced homes ultimately go for more than those that are overpriced at the beginning,” Helfant says.

One way to increase the odds of finding a realistic listing agent is to interview at least three prospects before making your selection. Ask each to do a “comparative market analysis” on your property, using recent data from like home sales in your neighborhood as a basis to set the appropriate list price.

“Watch out for any agent who comes in with a proposed list price way above the other agents you’ve surveyed,” she says.

Of course, as Helfant says, it’s always possible your property is worth more than you’ve been led to think by a real estate agent who wishes to score a quick sale. But that’s especially rare these days, given that inventory still remains scarce in popular areas, and many agents are hungry for listings.

-- Think through the math and chores of moving up.

If you own an entry-level home in an area with a strong employment base, you should do very well on your move-up transition, says Mark Nash, a longtime real estate broker and author of “1001 Tips for Buying and Selling a Home.”

“Likely there will be less competition if your next purchase is at the higher end of the market,” Nash says.

But as he points out, no property can achieve the highest possible price if it’s cluttered or unclean.

Inertia is one reason many owners delay the sale of their property despite their aspirations to move up. Surprisingly, some continue to procrastinate simply because of the daunting tasks involved in prepping their place for sale.

“If the time is right to trade up, don’t let disorganization cause you to postpone the joy of better quarters,” Nash says.

-- Incorporate your housing schedule into your move-up decisions.

Economic forecasters, who are typically much less reliable than meteorologists, differ widely in their views about how long the country can resist the next recession.

No matter the economy’s trajectory, real estate specialists caution against buying a trade-up property with the intention of selling it in just a year or two.

“Truth be told, you’ll probably need to hold your new property for at least three to five years to come out ahead. Otherwise, the transaction costs involved in selling, buying and then moving could eat up any potential profits,” Nash says.

-- Don’t let unrealistic fears undermine your move-up plans.

Veteran investors often cite an old adage when it comes to making money in any market: buy low and sell high. Granted, very few homes are now as deeply discounted as they were in the aftermath of the Great Recession more than a decade ago.

Still, Nash reminds starter-home owners who wish to sell and then trade up that it could be a mistake to delay fulfillment of their plans in hopes of awaiting a utopian situation. One downside of waiting is that mortgage rates, which are now falling somewhat, could rise in the future.

“Right now, maybe you won’t get a fabulous deal on that fine property you seek to own. But you should benefit from the pleasures of finally actualizing your housing dreams,” he says.

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

Buyer’s remorse -- that deep feeling of regret that afflicts some who’ve purchased a home at a high price -- is increasingly common. That’s according to research done by Clever Real Estate (listwithclever.com), a national network of real estate agents.

Clever reports that for many recent buyers, house payments have risen faster than incomes. What’s worse is that with higher prices typically come higher property taxes and homeowner insurance costs.

“When you buy any property, you have to look at the whole financial package rather than just the price tag alone,” says Michael Crowley, a longtime real estate broker in Spokane, Washington.

Obviously, economic cycles come and go. Those contemplating a home purchase in the near future should be following the debate as to whether the United States could be slipping into recession in the near term.

Eric Tyson, co-author of “Home Buying for Dummies,” says renters who are determined to buy in the near future often have a rosier outlook on the economy than do those committed to renting for the long term.

“Among the optimists are people who’ve taken a risk with other investments, like stocks, and held on until they’ve made money. The pessimists include people who’ve lost money on their investments and have soured on the idea of risk,” Tyson says.

After they’ve analyzed the overall situation, however, he says even pessimists usually see the positives in buying a well-chosen property now rather than continuing to rent indefinitely.

“Renting year after year has its own risks. Obviously, rental costs could rise substantially in the years ahead. And in the future, those who keep renting will be precluded from the kind of home value appreciation homeowners have enjoyed through the decades,” Tyson says.

There’s no such thing as a risk-free home purchase. However, you can improve your odds of a successful outcome if you think strategically and act cautiously. Here are a few pointers:

-- Conduct your own economic research.

Newspapers and TV news shows can provide perspective on the direction of the U.S. economy. But Tyson says you should be skeptical of commentators with a political bias that veers either left or right.

“You need to be aware that to score political points, some talking heads will express a very pessimistic outlook on the economy and housing market. Others are much more upbeat about the future. The reality probably lies somewhere between the two extremes,” he says.

It’s not difficult to find scholarly research reports on the American economy online. One source of national research that Tyson trusts for its neutrality is the Federal Reserve Bank of St. Louis (stlouisfed.org).

However, as good as they are, national prognostications are of less value to you as a would-be buyer than is information that helps you assess the strength of the neighborhoods where you’re considering buying a home.

To locate the parts of your metro area with the best prospects for home 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 areas served by public transit lines.

-- Evaluate your “personal economy” before deciding what to buy.

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, Tyson says.

Despite credit constraints, Tyson says it’s still possible for many buyers to qualify for a larger mortgage than their income warrants, thereby placing them at risk of a future default. That’s because your lender knows less about your financial obligations and spending habits than do you.

“A lot of your decision on how expensive a house to buy should hinge on your personal financial situation and job prospects,” Tyson says.

Before committing to any purchase -- even to a small home bought at a bargain price -- it’s always wise 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?

-- Check out neighborhood property values before you bid.

Researching property values before you submit an offer on a home is critically important in the current economic environment.

“When markets are dynamic, you and your agent should try hard to find similar homes that have sold within the last three to six months,” Crowley 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. Ask your agent to give you data on the median price of a home sold in the past month versus the month prior. Also ask for median price comparisons on an annual basis. These statistics should give you a good feel for the trend.

Use this information when crafting a bid for a property you like. If selling prices have been weak and inventory is abundant, Crowley says you can be more aggressive with your opening bid.

-- Don’t panic your way into a rushed offer.

Yes, there are still neighborhoods where buyers must compete to purchase in-demand properties. But in most places, buyers have recently gained leverage.

“In a much more balanced market, buyers can slow down with less fear of losing out,” Crowley says.

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