Why This Spring Might Be Your Best Chance to Buy a Home
If you've been waiting on the sidelines, wondering when the right time to buy a home will finally arrive, this spring might be your moment. Why? Because two big shifts in the market are working in buyers' favor: inventory is up, and sellers are more open to negotiation. That means you have more choices—and more leverage—than you’ve had in years. Let’s dive into what this means for you.
More Homes on the Market = More Choices
House hunting can be frustrating when there aren’t many options, but that’s changing. February saw the highest number of homes for sale in the past five years, and the trend is expected to continue. That’s a huge win for buyers.
With more listings to choose from, you’re less likely to feel pressured into settling for a home that doesn’t check all your boxes. And beyond just having more options, an increase in inventory also slows down the pace of the market. You’ll likely have more time to weigh your options and make a well-informed decision rather than rushing into a bidding war.
Danielle Hale, Chief Economist at Realtor.com, highlights another advantage of rising inventory:
“Buyers will not only have more home options . . . but they are also likely to find somewhat lower asking prices and more time to make decisions – all buyer-friendly factors as we inch closer to the busy homebuying season.”
Translation? More homes for sale means more negotiating power for buyers like you.
Price Reductions Are Becoming More Common
Sellers have had the upper hand for quite some time, but the tide is shifting. With more homes on the market, sellers can no longer assume their property will sell instantly—even if they price it high. The result? More price cuts.
Data from Realtor.com shows an increase in listings with price reductions, bringing us closer to pre-pandemic norms. That’s good news if you’re looking to buy, as it means sellers are becoming more flexible.
So, what does this mean for you? More than just lower prices, it could mean better negotiation opportunities. You might be able to work out a deal on closing costs, request repairs, or even get other concessions from the seller that weren’t possible in previous years. While not every home will see a price drop, the overall trend is working in your favor.
Bottom Line: Is This Spring Your Time to Buy?
If you’ve been waiting for the market to shift in your favor, this could be the window of opportunity you’ve been hoping for. With inventory on the rise and sellers adjusting their expectations, buyers have more power than they’ve had in a long time.
Are you thinking about buying this spring? Let’s chat about your next steps!
