08/16/2025
Buyers have regained control of the real estate market, as more than half of U.S. homes are now selling below their asking price.
This shift comes as the market cools, with homes often closing below the listed price amid softer demand.
Several factors have contributed to this change.Increased inventory is a major influence, with cities like Toledo, Ohio, and Savannah, Georgia, seeing inventory surges of 128% and 108%, respectively, compared to the previous year.
Additionally, homes are spending more time on the market, averaging 58 days, which is a week longer than last year.
This gives buyers more time to negotiate, strengthening their position.
Sellers are also offering more incentives to attract buyers.Incentives include covering closing costs or even buying down mortgage rates.Despite these favorable conditions, affordability remains a challenge.
The median home price is now $435,000, while mortgage rates hover around 6.5%, making it difficult for many buyers to enter the market.
High insurance costs add another layer of difficulty for potential homeowners.While buyers now have more leverage in negotiations, the market still presents financial hurdles due to high costs.
