Pity the poor homebuyer. The pandemic and post-pandemic markets have not been kind, with rapidly escalating home prices followed by rising interest rates and a fair dose of economic uncertainty.
READ: Does this new housing data foreshadow a
Now, however, lower interest rates and slower price growth may finally be opening the door to better buyer outcomes — even though the data suggests it’s probably too early to declare it a buyer’s market.
‘Not a shift, a transition,’ 2 reports say of homebuying market by Marian McPherson
Redfin and Realtor.com sought to answer the question, “Are we in a buyer’s market?” in separate reports this week. The verdict? Current data suggests a market that’s still in transition rather than an outright flip.
Momentum, measured by months of supply, is strongest for buyers in Miami; Austin, Texas; Orlando, Florida; New York; Jacksonville, Florida; Tampa, Florida; and Riverside, California, with inventory ranging between 6.1 months and 9.7 months of supply.
READ: Trump tariff policy has soured Canadian interest in US
Meanwhile, sellers still have the upper hand in 23 markets, and another 20 markets are somewhere in between.
It’s been an up-and-down market for some time now, and economic uncertainty will probably keep it so for the foreseeable future. Take control with advice from Inman contributors and Market View tools that teach you how to read the market. That way, you’re more informed and more informative when talking with your buyer and seller clients.
Back to school, back to basics: An 8-step buyer plan for every
Windermere agent Cassie Walker Johnson has launched an eight-step series that will streamline the way you work with hopeful homebuyers. Start here, then get caught up with the steps so you can follow along:
- The buyer intake plan for every real estate agent: Step
- How to have the commission conversation with buyers: Step
- How to help buyers prep their home financing homework: Step
- On ‘Education Day,’ buyers teach you what they really want: Step
How single women are reshaping today’s real estate conversation
From navigating life transitions to investing for long-term wealth, single women are taking the lead in real estate markets, luxury agent Lauren Endsley writes. Here’s how to serve them more effectively.
As homebuyers gain leverage, sellers get cold feet. Is it happening near you?
New listing business has been one of the few bright spots for real estate agents in a down market. But that light dimmed a bit this summer. With Inman Market View’s detailed maps and multi-market comparisons, take an interactive dive into the numbers most important to you.
The Download is a column in which Inman’s Christy Murdock takes a deeper look at the top-read stories of the past week to give you what you’ll need to meet Monday head-on.
