The Housing Market Is Quietly Shifting Toward Buyers

By Vicki Patterson

The housing market’s current climate is showing signs of softening and it may just be the opportunity buyers have been waiting for. While headlines continue to focus on affordability challenges and mortgage rates, behind the scenes, inventory is rising, competition is cooling and buyers are gaining leverage.

Slower Pace, Softer Prices

Recent data reveals that homes are staying on the market longer, more listings are receiving price reductions and bidding wars have eased significantly. In many markets, fewer than 30% of homes are selling above asking price down from over 50% just a couple years ago.

At the same time, sellers are increasingly having to compete for attention, especially in price ranges that were once fiercely competitive. This gives buyers more room to negotiate, request repairs, or secure favorable closing terms.

Supply Is Up, Demand Is Down

Housing inventory continues to climb, giving buyers more choices than they’ve had in years. Meanwhile, high interest rates and economic uncertainty have kept some would-be buyers on the sidelines, further tipping the scale away from sellers.

In several key markets, the months of inventory now exceed what’s considered “balanced,” signaling a gradual shift toward buyer-friendly conditions.

List vs. Sale Price Gap Is Growing

One of the clearest indicators of a buyer’s market? The growing gap between what sellers list their homes for and what buyers are actually paying. On average, homes are now selling for about 7% below asking price offering a rare window for value-conscious shoppers.

What This Means for Today’s Buyers

Whether you're a first-time buyer or looking to move up, today’s market offers a unique combination of:

• More options thanks to rising inventory

• Less competition with bidding wars subsiding

• Negotiating power on price, repairs and terms

• Potential savings between list and sale price

  
  

And while interest rates remain a hurdle, some buyers are using temporary buydowns or adjustable-rate mortgages to ease initial payments until refinancing becomes a viable option.

Final Thoughts

While this isn’t a dramatic shift, the signs are there: the market is no longer tilted entirely in favor of sellers. For buyers who’ve been waiting patiently, now may be the time to act before conditions tighten again.