Breakdown: Are We Shifting Towards a Buyer’s Market?

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Over a third of recent home sales featured a concession.

– The shift toward a buyer’s market is becoming evident as many sellers are becoming more willing to negotiate on price and terms. It looks like we are swapping our Seller’s market suit for something a bit more… buyer-friendly.

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Data and real estate agents confirm the trend.

– Real estate agents and data experts have either had a bit too much coffee or they’re onto something because they’re spotting the same trend: buyers getting a bit more say in this housing market ballroom dance.

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Negotiations are becoming increasingly common.

– It seems like sellers are loosening their grip on the pricing power. This allows buyers to finally breathe and not feel like they’re playing “Who Wants To Be A Millionaire” with their life savings.

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Buyer’s market could be unfolding.

– Real estate agents swap their crystal balls for spreadsheets and market analysis. And they predict… drum roll, please… a potential shift toward a buyer’s market. *cue gasps from the audience*

The Hot Take

Alright, real estate comrades, grab your party hats, because it’s looking like we’re in for a transition into a buyer’s market. It seems the seller’s dictatorship may finally be coming to an end. Buyers, heave a sigh of relief! No more pleading, begging, or promising your firstborn just to negotiate a fair price on a home, and sellers, perhaps it’s time to dust off those negotiation skills you neglected in favor of a firm price stance.

As the market goes into this metamorphosis, don’t forget to strap on your seatbelts because things might get slightly bumpy, or in real estate lingo, “negotiable”. So grab a cup of joe, wave your banner high and proudly proclaim, “This is our time, buyers!” or something less melodramatic, but hey, we’re trying to keep the mood light here!

In conclusion, all good things (like a seller’s market) must come to an end. But don’t despair, sellers! Keep in mind that even in a buyer’s market, there is ounce plenty of room to play, maneuver, and best case scenario, make some dividends. So, let’s toast (preferably with decaf) to the unfolding buyer’s market, and may the odds ever be in your favor, whether you’re buying or selling!

Original article: https://www.inman.com/2023/11/27/signs-of-a-buyers-market-emerge-as-homeseller-concessions-return/