As the market has cooled somewhat, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too! Here are couple of trends that may benefit you when you go to buy a home today.
Bidding Wars Have Eased
One of the top stories in real estate over the past two years was the intensity and frequency of bidding wars. But today, things are different. Now you have a chance to jump back into the market and enjoy searching for a home with less competition. As interest rates slightly increased in the fall of 2022, the buyer pool shrunk as well.
More Negotiation Power
When you have less competition, you also have more negotiating power as a buyer. Over the last two years, buyers were willing to skip important steps like the appraisal or inspection to be the “winning” offer. This is now a thing of the past!
Bottom Line
While buyers still face challenges today, they’re not necessarily the same ones you may have been up against just a year or so ago. If you were outbid or had trouble finding a home in the past, now may be the moment you’ve been waiting for! Reach out to us now so you can start the home buying process today.
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