It’s May 1st, and if you’re a buyer right now, I don’t blame you for feeling a little hesitant. There’s a lot going on. Interest rates don’t feel settled. The news cycle is… heavy. And for some, job security isn’t quite as certain as it once was. That combination is enough to make anyone pause. But from where I sit, I can’t help but feel that something is being missed. And I say this respectfully…What are buyers waiting for?
I’ve been doing this for close to three decades now. Long enough to know that every market feels different when you’re in it but the patterns tend to repeat. Right now, buyers have something that doesn’t come around all that often:
A wide selection of homes, time to think and revisit, the ability to negotiate on price and terms, and in many cases… sellers who are very open to working with an offer.
I’ve been doing this for close to three decades now. Long enough to know that every market feels different when you’re in it but the patterns tend to repeat. Right now, buyers have something that doesn’t come around all that often:
A wide selection of homes, time to think and revisit, the ability to negotiate on price and terms, and in many cases… sellers who are very open to working with an offer.
That last point matters more than most realize. There are sellers out there right now who would genuinely welcome a conversation. Not a bidding war. Not a firm offer with no conditions. Just something to work with. What I find interesting and a bit concerning is what tends to happen next. When the market shifts (and it will), many of the same buyers sitting on the sidelines today will step back in… but under very different conditions.
* Less choice.
* More competition.
* More pressure.
We saw it not that long ago. In 2021 and into early 2022, some buyers had to make decisions in hours. Subjects were often removed. Multiple offers were the norm. I remember thinking at the time that some buyers spent more time deciding what to have for dinner than they did on an $800,000 purchase. Or lose in several multiple-offer situations which created a huge emotional roller coaster. It was that kind of pace. Now we’re in the opposite environment. And instead of seeing it as an opportunity, many are waiting for clarity. The challenge is… clarity usually shows up after the opportunity has passed.
I don’t know when the market will turn. It could be rates easing. It could be confidence returning. It could be something none of us are talking about yet. But I do know this: Markets don’t stay like this forever. They never have. This isn’t about trying to call the bottom or rushing into something that doesn’t feel right. It’s simply about recognizing the conditions in front of you. Right now, you have time. You have leverage. You have options. That combination tends to disappear quietly… and then all at once. In any market, good or bad, we’re always one day closer to a different one. Something to keep in mind as you decide what to do next.
* Less choice.
* More competition.
* More pressure.
We saw it not that long ago. In 2021 and into early 2022, some buyers had to make decisions in hours. Subjects were often removed. Multiple offers were the norm. I remember thinking at the time that some buyers spent more time deciding what to have for dinner than they did on an $800,000 purchase. Or lose in several multiple-offer situations which created a huge emotional roller coaster. It was that kind of pace. Now we’re in the opposite environment. And instead of seeing it as an opportunity, many are waiting for clarity. The challenge is… clarity usually shows up after the opportunity has passed.
I don’t know when the market will turn. It could be rates easing. It could be confidence returning. It could be something none of us are talking about yet. But I do know this: Markets don’t stay like this forever. They never have. This isn’t about trying to call the bottom or rushing into something that doesn’t feel right. It’s simply about recognizing the conditions in front of you. Right now, you have time. You have leverage. You have options. That combination tends to disappear quietly… and then all at once. In any market, good or bad, we’re always one day closer to a different one. Something to keep in mind as you decide what to do next.
