The Housing Market is Changing Fast. Here is What Buyers and Sellers Need to Know
The national housing market is changing. Recent articles from Redfin and MarketWatch highlight what many of us have already felt on the ground: in many markets across the United States, buyers are finally regaining the upper hand. For the first time in years, buyers are back in charge and they are navigating the market with more leverage, more options, and a little more breathing room.
According to Redfin, the market now has nearly 500,000 more home sellers than buyers, it is the widest gap recorded since they began tracking this data in 2013. That imbalance is beginning to reshape the real estate experience, especially in regions where demand is softening faster than sellers are adjusting.
A Buyer’s Market Is Emerging, But It Depends on Where You Are
The Redfin report notes that while buyer activity remains strong in a few regions, the national trend is clear. There are simply more homes for sale than there are buyers ready to act. This creates downward pressure on prices and forces sellers to get serious about presentation and pricing.
MarketWatch adds that this environment is proving “absolutely brutal” for sellers in the South and Southwest, where price cuts have become more common. Homes are sitting on the market longer. According to their reporting, nearly half of all listings in April sat on the market for 60 days or more.
But this is not universal. In places like Newark, New Jersey, and Nassau County, New York, bidding wars are still happening on well-priced homes. In these hot pockets, it is still very much a seller’s market.
That is why local knowledge matters more than ever. Buyers and sellers need to understand the nuances of their specific market rather than rely solely on national headlines.
What This Means for Sellers
Sellers can no longer assume that their home will sell in a weekend. The days of double-digit over-asking offers with waived contingencies are not the norm anymore, unless your market is still red-hot and your home is move-in ready.
To succeed in this new environment, sellers need to:
- Price accurately. Look at current comps, not just what sold during the pandemic peak.
- Present your home at its best. That means staging, repairs, and professional photos.
- Be open to negotiation. Buyers have more leverage now and they are using it.
This is not the time to test the waters with an ambitious price. You only get one chance to make a strong first impression. Homes that sit too long often end up selling for less after multiple reductions.
How Buyers Can Use This Market to Their Advantage
Buyers who have been waiting on the sidelines now have a genuine opportunity to step in with less pressure. You may not have to waive inspections. You may be able to negotiate credits for repairs. And in many cases, you will not be bidding against 15 other offers.
But that does not mean it is easy. The cost of borrowing is still high. Mortgage rates remain elevated, and affordability continues to be a challenge in many areas. That means buyers need to be smart and strategic.
Here is what I recommend:
- Know what you want. Clarify your must-haves versus nice-to-haves.
- Get pre-approved. It shows sellers you are serious and strengthens your offer.
- Have your reserves ready. Unexpected repairs and costs still happen.
- Take your time. In most markets, you do not need to rush anymore.
Why Strategic Thinking Matters Now
We are in a market that requires both buyers and sellers to be thoughtful. Sellers must adapt to changing expectations and buyers need to act wisely rather than emotionally. The transactional frenzy of the last few years has given way to a market that rewards preparation and partnership.
This is where the expertise of a trusted real estate agent makes all the difference. Agents who know their local markets can guide clients through the subtle shifts happening right now and those shifts vary greatly zip code by zip code.
My Advice for Clients in 2025
Buyers, you finally have a window to make more measured decisions. Take advantage of it. Sellers, you are not powerless, but you must be realistic. Your success now depends on how well you price, prep, and position your home in a market that is more selective.
My advice to all clients is simple: be strategic. Think long term. And above all, get local insight before making big decisions.
Final Thought
This market rewards those who plan carefully and stay informed. Whether you are looking to buy or sell, I am happy to connect you with a trusted real estate agent in your area who understands your market and will guide you with confidence and care.
