Thinking about buying a home but unsure if now is the right moment? Many people are holding back, watching the market and wondering what will happen next. But here’s the thing that the smartest buyers know: the best time to buy isn’t about trying to predict the market—it’s about finding the right home for you when the time feels right.

This summer could be the perfect time to buy a home, and here are three key reasons why.

 1. You Have More Negotiating Power

For quite a while, sellers have held most of the power in the market, but that balance is beginning to change. Take a look at the graph below, which uses Redfin data to highlight that currently, there are more sellers than buyers actively in the market.

Between 2021 and around 2023, there were a lot more buyers (shown by the blue line) than homes available for sale (the green line). This imbalance is what caused the intense competition, bidding wars, and the rapid increase in home prices during that time.

The market has changed, and now buyers are starting to have more negotiating power. Since there are more sellers than buyers, sellers might be open to paying for repairs, covering part of your closing costs, or even lowering their asking price. This shift back to a more balanced market is a sign that things are becoming healthier and more sustainable. As Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), points out:

““ . . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”
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— Lawrence Yun, Chief Economist at the National Association of Realtors (NAR)

If you’re concerned about too many homes being available, here’s some good news. The overall inventory is still below the usual levels, so there’s no need to worry about a nationwide oversupply or a market crash.

2. You Have More Choices

The number of homes available for sale has increased significantly. According to the latest data from Realtor.com, more homes were listed this May than in either May 2024 or May 2023 (see graph below).

More homes available means more options for you. Your ideal home might have just become available—or will be soon. So now’s a perfect time to check out the market. As Jake Krimmel, Economist at Realtor.com, points out:

““With more fresh inventory hitting the market, buyers have better opportunities to find a home that fits their needs.”
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— Jake Krimmel, Economist at Realtor.com

3. You May See More Flexibility on Price

With more homes on the market, they're not selling as quickly or as frantically as they were a few years back.

These days, homes are staying on the market a bit longer, so many sellers are opting to reduce their asking prices to attract buyers or move things along faster. That’s totally normal in the current market. In fact, Realtor.com reports that 19.1% of listings saw a price drop this May.

For the fifth month in a row, more sellers have lowered their prices. As of May, the number of price cuts has returned to what we usually see. This is another clear indicator that the market is moving toward a more balanced state.

You might not see huge discounts, but sellers could be a little more willing to negotiate these days. A recent article from The Street points out:

““Although sellers have had the upper hand in the housing market over the past few years, houses are now staying on the market for longer, shifting negotiating power back to homebuyers.”
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— The Streets

Keep in mind, most sellers aren’t dropping their prices—only those who started out asking too much. This doesn’t mean the market is crashing; it just shows that some sellers haven’t caught up with the changing market conditions.

Bottom Line

This summer, buyers have a great opportunity with more homes available, fewer competing offers, and sellers who are more open to negotiating prices. If you're thinking about making a move, let's get in touch.

What does finding the perfect home this summer look like for the next chapter of your life?