Mortgage rates climbed sharply this week. If you're thinking about waiting to buy, the bigger question is what would need to change.

Nationally, new home sales beat expectations in August, and home values are still above year-ago levels. Real estate is local, but waiting for a better rate doesn't guarantee you'll also pay less for a home.

So instead of waiting for everything to improve at once, get clear on what would make a move work for you.

Maybe it's a better rate, a different price point, or more flexibility on the right home. Once you know that, you have something specific to watch for and can be ready when the opportunity comes.