There is Nothing Wrong With That House
Over the past few weeks, I have received a growing number of emails from homebuyers who are sending me listings and asking the same question: what is wrong with this house? They are noting that homes are sitting on the market these days. The listings they are referring to have been on the market for a week, two weeks, or even a month. And the assumption is always the same: if the house hasn’t sold quickly, there must be something wrong with it.
This is a common reaction, especially after the last few years of an abnormal real estate market. During the pandemic, homes were selling within hours or days. Multiple offers were the norm, and buyers had to make rushed decisions with very little time to think. That was not a normal market.
The Market Has Shifted Back to Normal
What we are seeing now is a market that has shifted. Homes are sitting on the market a little longer. Buyers have more time to think and evaluate. This does not mean something is wrong with the home. It just means that the frenzy has cooled. We are in a balanced, healthier market where buyers are no longer pressured to make decisions in minutes.
A Time to Breathe
If you are in the market to buy, this is your opportunity to take a deep breath. You now have the ability to:
- Schedule a second showing
- Drive by the property at different times of day
- Speak to neighbors
- Revisit your wish list and compare
This kind of thoughtful process helps you make a smart decision. So if a home has been on the market for a few weeks, ask yourself: does this home meet your criteria? Is it in your price range? Does it align with your lifestyle?
You Have More Negotiating Power
Another key benefit of this new normal market is that buyers are regaining negotiating power. You now have the opportunity to:
- Offer below the asking price
- Ask the seller to cover some of your closing costs
- Include extras like appliances or lawn equipment
- Set timelines that work better for your move
This is a significant change from the seller-driven market we experienced for the past few years. And it means buyers can once again make offers that serve their best interests.
For Sellers: This Is Still a Good Market
Sellers, it’s important to remember that the market is not broken. It is just no longer abnormal. What we are seeing now is similar to the markets we have known for most of the past few decades. Homes take a few weeks to sell. Some receive one offer. And that is okay. What is happening is a return to balance.
Buyers: Build Your Wish List
With more time and flexibility, now is the perfect opportunity for buyers to revisit their home wish list. List the things that matter most to you, whether it is the number of bedrooms, proximity to work, a large yard, or an updated kitchen. Then, as you visit homes, use that list to see how closely each property aligns with your goals. While no home is ever perfect, the more boxes you can check off, the more confident you can feel in your decision.
Final Thoughts
So if you seeing that homes are sitting on the market for a couple of weeks or even longer, pause before assuming something is wrong. The reality is this is just what a normal real estate market looks like. Use this opportunity to take your time, think clearly, and negotiate smartly.
Need Help Navigating This Market?
If you are looking for guidance as a buyer in this shifting market, I can help. I am happy to connect you with a trusted real estate agent in your area who can guide you through the process and make sure you have the support and advice you need to make the right decision for your future.
