Amid concerns over high prices and elevated mortgage rates, buyers and sellers have been moving cautiously in the real estate market. However, experts say that we are no longer in a spooky market due to several factors which include: easing interest rates, increased inventory, and consistent long-term demand. These factors indicate a steadier, more balanced market.

For buyers: This brings new opportunities.

The housing market is no longer defined by the pandemic-era frenzy, which means today's buyers have less competition and greater leverage than in recent years. 

• Growing inventory: As more homes enter the market, buyers can be more selective because there are more options and less pressure to act quickly.

• Negotiating power: Increased supply and longer days on the market means more leverage for the buyer when it comes to negotiating on price, repairs, or other terms.

• Time to make a plan: While mortgage rates remain elevated, they have eased from recent peaks. This provides an opening for buyers to lock in a rate that works for their budget. We recommend contacting Greg Leaptrotte with Motto Mortgage Simplified.

For sellers: Have a Realistic Strategy

With the market leveling out, sellers must adjust their expectations from the frenzied pace of previous years.

• Pace has slowed: Homes are spending more time on the market, so sellers should not expect the immediate bidding wars of recent years past.

• Pricing is key: A realistic, competitive listing price is the best strategy to attract serious buyers and avoid the need for later price reductions.

• More buyers are coming: As mortgage rates moderate, more sidelined buyers may enter the market, which can increase competition for your home.

Whether you’re buying or selling, having a good strategy is KEY. My specialized teams can help you with that. We are on standby, 7 days a week, ready to help you take the smoother road to sold!