A Market Buyers Have Been Waiting For

Jason Stier says your wait to buy a home may finally be over. For the first time in a long while, several signals are lining up in favor of buyers. Home prices have just fallen for the first time in more than three years, pending sales are at record lows, and supply is sitting in balanced territory. Together, those conditions mean buyers have real negotiating power, something that has been missing from much of the recent market. Local conditions vary, so it is worth checking what is happening in your own neighborhood.

Prices Dip and Sellers Become Negotiable

When prices slip and pending sales slow, sellers feel it. Homes take longer to sell, and sellers who once expected multiple offers are now more willing to talk about price, repairs, and concessions. A balanced supply also means buyers have more choices and can afford to be selective. That combination creates room to negotiate on terms that would have been hard to win in a faster market, including seller credits that can be used toward closing costs or a rate buydown.

A New Appraisal Report Arrived on November 2

Appraisals also got a total makeover on November 2, with a brand new report replacing forms that had not changed in twenty years. Jason points out that this means cleaner data and fewer surprises when a home is priced to the comps. For buyers, a clearer and more consistent appraisal process can make it easier to understand how a value was reached and reduce the chance of last minute gaps. Lenders and appraisers are still adjusting to the new format, so it is a good idea to ask your loan officer how it may affect your file.

A Strong Economy Supports Demand

The economy also just printed hot, with strong growth and consumers still spending. Jason notes that this means demand is holding, which supports the idea that a home is a solid place to put your money. A resilient economy and steady demand do not guarantee future price changes, but they help explain why buyers who find the right home may feel more confident about committing.

The Move Is Simple

Jason’s advice is straightforward. Get your numbers run, find the home you love, and write the offer while sellers are negotiable. Knowing your payment and your budget before you start shopping lets you move quickly and negotiate from strength when the right home appears.

This Window May Not Last

This is the market buyers have been waiting for, and Jason cautions that it will not stay this friendly forever. When conditions improve and more buyers return, the leverage buyers have today can fade.

Reach Out and Run Your Scenarios

If you are ready to see where you stand, reach out to Jason Stier and he will run the scenarios for you, so you can write your next offer with confidence.

Sources

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