Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an\u00a0inflection point..<\/p>\n\n\n\n
This year, buyer demand has eased as higher\u00a0mortgage rates\u00a0and mounting economic uncertainty moderated the market. The\u00a0latest data<\/a>\u00a0from\u00a0ShowingTime\u00a0<\/em>illustrates how showings (an indicator of buyer demand) have softened by just over 12% compared to the same time last year. At the same time, data<\/a>\u00a0from\u00a0realtor.com<\/em>\u00a0shows active listings are up nearly 27% compared to last year. That\u2019s because the moderation of demand allowed housing inventory to increase in 2022.<\/p>\n\n\n\n If you\u2019re thinking of buying a home, you\u2019ll have less competition and more options than you would have had last year. The increase in supply has also increased your\u00a0negotiation\u00a0power. As opportunities and challenges facing buyers continue to evolve with today\u2019s shifting market, reach out. I would love to put my resources to work for you.<\/p>\n\n\n\nWhat Does This Inflection Point Mean for Buyers?<\/strong><\/h4>\n\n\n\n
What Does This Inflection Point Mean for Sellers?<\/strong><\/h4>\n\n\n\n