For the first time in years, the U.S. housing market is tilting in favor of buyers. According to the latest data, trends suggest that homebuyers may have more leverage in negotiations than they’ve seen in quite some time. ReadySetLoan is here to help you navigate this shifting landscape with expert insights and mortgage solutions.
Here’s what the numbers from February reveal:
🐽 Sales are slowing: Pending home sales dropped 6.3% in January, marking the lowest level since the uncertainty of early 2020.
🐽 Homes are sitting on the market longer: The median time on the market reached 56 days—the longest stretch since February 2020, giving buyers more time to make informed decisions.
🐽 Price growth is cooling: The 4.1% year-over-year increase in median home prices represents the slowest growth rate since last fall, bringing conditions closer to pre-pandemic levels.
🐽 Buyers have more negotiating power: The typical home sold for 1.8% less than its final asking price in January, the largest price discount in nearly two years.
🐽 Deals are falling through: Canceled home purchases reached their highest January rate since at least 2017, reflecting buyer caution and a market ripe for strategic offers.
While these trends create opportunities for buyers, securing the right mortgage is key to making the most of this moment. Whether you're a first-time homebuyer or looking to upgrade, ReadySetLoan is your go-to resource for expert mortgage advice, competitive rates, and tailored solutions.
🏁 Ready to make your move? Contact ReadySetLoan today and let’s get you to the finish line! 🏡
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