More Homes. Better Prices. More Buying Opportunities.
Lower asking prices and increased inventory are giving today's buyers more choices and greater negotiating power.
If you've thought about buying a home in the past few years, you've probably experienced two major frustrations:
"asking prices that continued climbing and too few homes to choose from."
This summer, both of those challenges are beginning to ease. In many markets, sellers are lowering asking prices while more homes are becoming available. Here's what those trends mean for today's buyers.
According to Realtor.com, the national median asking price in June was
$430,000—nearly $11,000 lower than the same time last year.
While lower prices may sound concerning, this is not a sign of a housing crash. These are asking prices—not final sales prices. Instead, sellers are recognizing current market conditions and pricing homes more competitively from the start.
"Sellers are reading market conditions and are pricing accordingly from the start rather than listing high and cutting later, and buyers are taking note and making bids. This is a welcome sign that we are in a functioning market." — Danielle Hale, Chief Economist, Realtor.com
Asking prices were never expected to rise forever. Today's pricing reflects a healthier housing market where sellers are adjusting expectations and buyers are benefiting from more realistic pricing.
If you've spent the past several years watching homes sell before you could even schedule a showing, you'll appreciate today's market.
According to Realtor.com, the number of homes listed for sale in June reached its highest level for the month of June in three years.
More inventory means:
- More homes to choose from.
- Less competition from other buyers.
- More time to evaluate your options.
- Greater negotiating power.
- A better chance of finding the right home rather than settling for what's available.
Although inventory hasn't fully returned to pre-2019 levels everywhere, many markets have significantly improved compared to the past few years.
That means buyers don't have to rush into making offers just to stay competitive. Today's market offers more flexibility and more opportunities to find a home that truly fits your needs.
Great News for First-Time Buyers
These changes are especially encouraging for first-time buyers shopping in lower price ranges.
According to Zillow Chief Economist Mischa Fisher:
"The lowest price tiers are exhibiting some softness in terms of price, they also had the most listing-activity growth, the first time since 2022 that's been the case."
In other words, affordable homes are becoming easier to find, while pricing has become a little more favorable for buyers entering the market.
Bottom Line
If rising prices and limited inventory have delayed your home search, now may be an excellent time to take another look.
With more homes available and sellers pricing competitively, today's market offers buyers more choices, more negotiating power, and a better opportunity to find the right home.
CONNECT WITH GINA GARCIA your trusted local real estate professional to explore what's available in your area and begin your home search with confidence.
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