Author: Patrick

More Time to Buy a Home

If you’ve been waiting for the right moment, here it is: buyers finally have more time to buy a home. Unlike the frenzy of a few years ago—when houses sold within hours—today’s slower pace gives you breathing room. That means extra time to compare options, negotiate terms, and make confident decisions instead of rushing into a purchase. You Have More Time to Buy According to the latest data, homes are spending an average of 58 days on the market. That’s much more normal. And it’s a big improvement compared to the height of the pandemic, when homes were flying off the shelves in a matter of days (see graph below): That means you now have more time to make decisions than you have at any point in the past five years. And that’s a big deal. Now, you’ve got: Time to think. Time to negotiate. Time to make a smart move without all the pressure. More Time to Buy, Means Less Stress (and More Leverage) Based on the data in the graph above, you have an extra week to decide compared to last year. And nearly double the time you would have had at the market’s peak. Back then, fear of missing out drove buyers to act fast, sometimes too fast. Today, the pace is slower, which means you’re in control. As Bankrate puts it: “For years, buyers have been racing to snag homes because of the fierce competition. But the market’s cooled off a bit now, and that gives buyers some breathing room. Homes are staying listed longer, so buyers can slow down, weigh their options and make more confident decisions.” With more homes on the market and fewer buyers, you have more time to buy a home and not having to race to grab them, the balance has shifted. Bidding wars aren’t as common, and that means you may have room to negotiate. And you can actually take a breath before you make your decision. More listings + a slower pace = less stress and more opportunity But, and this is important, it still depends on where you’re buying. Nationally, homes are moving slower. But your local market sets your real pace. Some states are moving faster than others. It may even vary down to the specific zip code or neighborhood you’re looking at. And that’s why working with an agent to know what’s happening in your area is more important than ever.  To see how your state compares to the national average (58 days), check out the map below: As Realtor.com explains: “While national headlines might suggest a buyer’s market is taking hold, the reality on the ground depends heavily on where and what you’re trying to buy. Local trends can diverge sharply from national averages, especially when you factor in price range, property type, and post-pandemic market dynamics.” A smart local agent can tell you exactly when to move fast and when you can take your time, so you never miss the right home for you. Bottom Line If the chaos of the past few years drove you to hit pause, this is your green light. The market’s pace has shifted. You have more time. More options. More power. And with the right agent guiding you, you’re in the best position you’ve been in for years. Connect with a local agent to talk about what the pace looks like in your area, and if now could be the right time for you to re-enter the market.

Buy Now or Wait? The Real Tradeoff With Mortgage Rates.

“Should I buy now or wait for mortgage rates to drop?” One of the biggest questions buyers are asking me right now Let’s look at the facts and the tradeoffs of buying now or waiting.  What you need to consider. Well, let’s break it down…   Where are Mortgage Rates Today, if You were to Buy Now After the latest jobs report came in weaker than expected, the bond market reacted quickly — and rates dropped to 6.55%, the lowest so far this year. That dip has many people wondering: “Is now a good time to buy a house 2025, or should I wait for mortgage rates to fall further?” According to the latest mortgage rate forecast 2025 housing market outlook, most experts agree we won’t see a dramatic drop. Projections suggest rates will hover in the mid-to-low 6% range through 2026. So while there may be small ups and downs, a major plunge isn’t likely anytime soon. Now, that may not seem like a massive drop, but trust me, buyers have been waiting for any sign of movement. Even small changes like this light a fire under the market because they hint that rates might be heading lower. But here’s the reality:  Most experts aren’t expecting rates latest forecast to drop dramatically anytime soon. Projections show rates hanging in the mid-to-low 6% range through 2026. That means, yes, we’ll see ups and downs, but no massive plunge overnight. The Magic Number: 6% For many buyers, the tipping point is 6%. And it’s not just psychological — it’s real math. NAR data shows that if rates hit 6%: 5.5 million more households could afford a median-priced home Around 550,000 buyers would jump into the market within 12–18 months That’s a lot of pent-up demand waiting for the same moment. Should you wait to buy a home until interest rates fall to 6%? (See Infographic)Here’s the catch: if you’re waiting, millions of others are too.   The Tradeoff of Buying Now Instead Waiting When rates eventually inch closer to 6%, here’s what will happen: Competition will heat up Inventory will shrink Home prices will rise Right now, buyers actually have an edge:✅ More homes available to choose from✅ Slower home price growth✅ Better negotiating power with sellers These opportunities may disappear once demand surges. Bottom Line So… buy a house now or wait for mortgage rates to drop?Rates aren’t expected to hit 6% this year, but when they do, you’ll likely face bidding wars and higher prices. If you’d rather shop with less competition, more options, and stronger negotiating leverage, the window of opportunity is open right now. The real question is: Do you want to buy when the market is calm, or when the race is on?