A More Buyer-Friendly Market? The Signs Are There
Good news for homebuyers: the market is slowly starting to tip in your favor. Prices are holding steady in many areas, more homes are hitting the market, and buyers are beginning to gain a bit more negotiating power.
According to Realtor.com’s latest data, the number of homes actively for sale is up more than 28% compared to this time last year. That’s the 84th week in a row we’ve seen annual growth in inventory. For context, there are now over a million homes for sale nationally—something we haven’t seen consistently since 2019.
Not only is inventory growing, but sellers are adjusting to today’s market. About one in five sellers have reduced their listing price, giving buyers more room to negotiate and explore options. The typical home is also sitting on the market longer—51 days nationally—which is giving buyers more breathing room to make decisions, unlike the rapid-fire pace of the last couple of years.
New listings are also picking up. They were up 5.7% from this time last year and are growing week over week. While overall inventory is still below pre-pandemic levels in some parts of the country—especially the Midwest and Northeast—we’re seeing stronger supply in the South and parts of the West where new construction has been active.
So what does this all mean for you? If you’ve been waiting for the market to soften before making your move, this could be a great window of opportunity. While mortgage rates aren’t expected to drop drastically in the immediate future, the Federal Reserve has signaled potential rate cuts later this year, which could help buyers even more down the line.
If you’re curious about how these shifts might affect your buying or selling plans, I’m here to help. Whether you’re ready to make a move or just exploring your options, reach out anytime—I’d love to guide you through it!
