Contract Volume Has Hit a Record Low

Jason Stier has a message for agents and their buyers: the negotiating window may be the best they ever see. The National Association of Realtors reported that September pending sales fell 7.3% from August, the weakest contract volume on record. NAR chief economist Lawrence Yun has said that rates could be topping out, which adds a note of optimism to a market that has felt heavy for buyers and sellers alike.

Asking Prices and Price Reductions Tell the Story

Asking prices have now fallen for an eleventh straight month, and price reductions are climbing. Realtor.com has described the situation as the market buyers have been waiting for finally arriving. When sellers are cutting prices and contract volume is thin, buyers who are ready to act hold more leverage than they have had in years.

Rates Are Holding and May Be Drifting Lower

Freddie Mac held its weekly rate flat this week, and daily benchmarks are already drifting back toward the low 7s. That suggests the panic over rates may be peaking. Buyers who have been sitting on the sidelines waiting for a signal may find that the conditions they were hoping for are starting to take shape.

Sellers Have Equity, Buyers Have Leverage

Sixty-four percent of markets still saw prices rise in September. That means sellers are holding on to real equity confidence, but it also means buyers are negotiating in a market where values are not collapsing. The result is a rare balance where both sides have something to stand on, and the buyer’s side of the table has more room to ask for what they want than it has had in a long time.

The Play: Aggressive Offer, Credits, and Contingencies

Jason’s strategy is simple. Write the aggressive offer. Ask for the credits. Keep the contingencies. In a market where sellers are watching listings sit and price cuts pile up, buyers can negotiate on price, concessions, and protections at the same time without the pressure that defined the last few years.

Send Your Buyers to Jason Stier

Jason invites agents to send their buyers his way so he can run the payment scenarios and show them exactly what buying today looks like. The window is open right now, and it will not stay open forever.

Sources

NAR.realtor
Realtor.com
FreddieMac.com
ConsumerFinancialProtectionBureau.gov
Investopedia.com