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WHY THIS SUMMER COULD BE A SMART TIME TO BUY A HOME Thinking about buying a home, but feeling unsure if now's the right time? You're not alone. Plenty of folks are wondering what the housing market is going to do next. But here’s the thing savvy buyers are catching onto: this summer might actually offer the best buying conditions we’ve seen in years. Let’s break down why this could be your window of opportunity. 1. MORE NEGOTIATING POWER IS BACK ON THE TABLE Over the past few years, sellers held most of the cards. Homes were flying off the market, and buyers were often stuck in bidding wars or making offers well over asking price just to compete. But things are shifting. Right now, there are more homes on the market and fewer active buyers compared to the frenzy of 2021 through 2023. That means less competition and more breathing room for you. It also opens the door for better negotiations. You might find sellers more willing to cover repair costs, help with closing fees, or even budge on price—especially if their home has been sitting a while. As Lawrence Yun, Chief Economist for the National Association of Realtors, put it: “With housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.” 2. YOU'VE GOT MORE HOMES TO CHOOSE FROM Inventory has picked up across the board. Compared to the past couple of years, there are simply more homes available right now. That means a wider selection and a better chance of finding a home that truly fits your needs—without having to compromise or rush into a decision. According to housing experts, fresh listings are coming onto the market at a stronger pace than we’ve seen in recent Mays. So if you haven’t looked recently, it might be worth taking another glance. Jake Krimmel, an economist at Realtor.com, notes, “With more fresh inventory hitting the market, buyers have better opportunities to find a home that fits their needs.” 3. SOME SELLERS ARE SLASHING PRICES Because homes are taking a bit longer to sell, more sellers are adjusting their expectations. In fact, nearly one out of every five home listings had a price cut this past May. That's been a trend for several months now, showing that sellers are starting to meet buyers halfway. Now, this doesn’t mean you should expect rock-bottom prices. But if a home was priced too high from the start, there’s a chance you might see a more realistic asking price—or a seller who’s open to making a deal. The Street summed it up well: “Although sellers have had the upper hand in the housing market over the past few years, houses are now staying on the market for longer, shifting negotiating power back to homebuyers.” So while this isn't a sign of a market crash, it is a sign that balance is coming back. And that puts buyers in a much stronger position than we’ve seen in quite some time. The market isn’t perfect, but it’s more balanced than it’s been in years. With more choices, more room to negotiate, and a few price cuts here and there, this summer could be your time to make a move. |
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