It comes as no surprise that the housing market has been pretty freakin’ competitive over the last two years. Low inventory and interest rates coupled with a surplus of demand caused home appreciation to sky rocket.
However, today we are seeing a slight shift from an all-time sellers market to the scale tipping back towards buyers. One trend I point out in this video is the increase in price adjustments on active listings. They have more than doubled since April! This is likely caused by interest rates increasing in addition to inventory.
What this should signal to buyers right now is that the leverage is slightly shifting in your favor. It’s still competitive out there, but there are opportunities to get good value on a home compared to where it might be a year from now.