You May Have More Negotiation Power When You Buy a Home Today
- nikkicloud5
- Apr 5, 2023
- 1 min read
Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper competitive market has cooled this year as buyer demand has moderated and housing supply has grown.
Those two factors combined mean you may see less competition from other buyers. Here are two trends that may be the news you need to reenter the market.
1. The Return of Contingencies
Over the last two years, more buyers were willing to skip important steps in the home buying process, like the appraisal or the inspection, in hopes of gaining an advantage in a bidding war. But now, things are different.
2. Sellers Are More Willing To Help with Closing Costs
Before the pandemic, it was a common negotiation tactic for sellers to cover some of the buyer’s closing costs to sweeten the deal. This didn’t happen as much during the peak buyer frenzy over the past two years. Despite the extremely competitive housing market of the past several years, today’s data suggests negotiations are starting to come back to the table.
To find out how the market is shifting in our area, let’s connect today. Despite the extremely competitive housing market of the past several years, today’s data suggests negotiations are starting to come back to the table. To find out how the market is shifting in our area, let’s connect today.
Contact Information: (682) 559-2210 | Nikkicloud@kw.com
Nikki Cloud & The Key Team
https://www.key2yourdreamhome.com
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