What's New in September

Our market continues to shift quickly in the real estate world. As of the last count, pending home sales were down almost 10% since this time last year. Coupled with that, inventory has shot to almost 5 months worth of homes. This is a relatively normal/balanced number, that has big implications for buyers.

First, buyers have a bigger selection of homes to choose from. Second, buyers can take their time looking at homes without great fear of them flying off the market the 1st day. And last, buyers have just as much, if not more, negotiating power than sellers these days.

That all may be changing soon though. The Fed has announced major rate cuts coming in September. As this time, we don't know how big the cuts will be. There's a chance they won't be significant enough to tip the scales back to sellers. But if they are a large cut, we can expect much more buyer activity and fewer days on the market.