The Market Might Be Finally Tipping
After years of tight inventory, bidding wars, and price surges, the U.S. housing market may be shifting in a big way, and not just because of seasonality.
According to a new report from Redfin, there are now significantly more sellers than buyers in the market, which could signal a cooling period ahead.
But don’t expect prices to plummet overnight, there’s more to the story.
🔗 Read the article here:
👉 Read the CNN article here
Key Takeaways from the Article
Biggest gap between sellers and buyers in over a decade:
As of April, there were nearly 500,000 more home sellers than buyers, the widest gap since Redfin began tracking the data in 2013.Prices still creeping up, barely:
The median home sale price hit $414,000 in April, up 1.8% year-over-year, marking the 22nd straight month of price increases, even with demand softening.Mortgage rates remain a hurdle:
With 30 year fixed rates near 7%, affordability is still tight for buyers, which is keeping many on the sidelines.High inventory, low urgency:
There are more homes for sale now than any time since March 2020, but buyers are hesitant. Many are waiting for prices or interest rates to drop.Spring slowdown:
Spring is usually real estate’s hot season, but this year it’s feeling unusually slow. Listings are sitting longer, and more sellers are offering concessions or price reductions.Sellers might start blinking:
Redfin predicts a modest 1% drop in home prices by year-end, especially if more sellers adjust expectations to meet the market.
📎 Want the full story?
👉 Read the full CNN article here
Bottom line:
Locally, we’re already seeing signs of this shift:
More listings are lingering past the first weekend, even in popular neighborhoods like Pembroke Falls and Silver Lakes.
Price cuts and seller credits are becoming more common, something we hadn’t seen much since pre pandemic days.
Buyers have a bit more breathing room, especially if they’re well qualified and willing to negotiate.
For sellers, realistic pricing is key. Homes that come in too high are sitting, while competitively priced properties are still moving.
Bottom line: the market isn’t crashing but the fever pitch is cooling.
If you're buying, this could be your window.
If you're selling, it's time to be strategic.
