Many home buyers have been sitting on the sidelines, they still want to buy a home, but they feel like it’s just too hard. Interest Rates are still higher than desired, home values are high and it seems like all the “good homes” end up with multiple offers….
But if you look below the surface, conditions are actually much better for home buyers than they have been in recent years. In April, nearly HALF of the homes that sold offered a concession to their buyer. This is something that was extremely rare during the high intensity market we saw during the rush of 2020-2022.
Concessions can help you with many things and are actually many times more powerful than a reduced price would be long term because they allow you to bring in less money to close escrow, or use the credit towards a rate buy down which could potentially save you hundreds each and every month for the life of your loan.
If you have been waiting around for the right time to get back into the market, now is a great time. Inventory is up, which means more homes to choose from- but also means that home sellers are more willing to negotiate with their buyers. Rates are trending down again and although they are still in the 6’s, the good news is they seem to be heading in the right direction.
If you are ready to get back in the game, I would love to work with you so reach out anytime I can be of assistance!
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