More Homes, More Options: Why Buyers Have a New Edge

In recent months, the real estate market has started to shift. After years of tight supply and fast-moving sales, more homes are now entering the market. For buyers, this could mean something long hoped for: more choices and greater leverage at the negotiating table.

1. More Listings, More Choices

The National Association of REALTORS® (NAR) reports that the number of homes for sale is now at levels not seen since May 2020, during the COVID-lockdown period. That uptick in inventory means buyers aren’t feeling quite as squeezed as they were when listings were scarce.

2. Moderating Prices = Better Affordability

What’s helping is that home price growth is slowing. The median price of existing homes in July rose only slightly compared to last year—around 0.2%. At the same time, wage growth is now comfortably outpacing home price increases, giving buyers more purchasing power.

3. Sellers Responding to Market Realities

With more competition, some sellers are adjusting their expectations. Also, builders are increasingly offering incentives. About 37% of homebuilders in August reported lowering prices—the highest proportion since 2022—with average discounts of roughly 5%.On top of that, a good number of builders are sweetening deals with mortgage rate buydowns or helping out with closing costs.

4. Buyer Interest Is Showing Up

These market signals aren’t going unnoticed. The Mortgage Bankers Association reports that purchase mortgage applications are well above last year’s levels. It suggests that more buyers are gearing up—taking advantage of the softer competition and seller incentives.

5. Don’t Count Out the Competition

Despite easing conditions, buyers still need to act smart. Some homes are still selling above asking price, and more than half of real estate pros say many listings are selling in fewer than 30 days.

6. How This Plays Out Differently Across Regions

The shifting dynamics aren’t uniform across the U.S.:

• Northeast: Home sales are up, and prices have ticked up modestly.

• Midwest: Sales have eased slightly, but prices are growing more steadily.

• South: Sales are inching up, with some areas even seeing slight price declines.

• West: Here things are more mixed—some sales are slowing, and prices are down in places.

All in all, the current housing market appears to be tilting back toward buyers—after several years of intense competition and rising costs. For many buyers, this means more breathing room: more listings, more time to decide, and more opportunity to negotiate favorable terms.

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