42% of homes on the market right now are taking price cuts.
And inventory just hit 1.1 million homes nationwide. That's more than we've seen since 2019. More than any year during the pandemic. Sellers are negotiating. Buyers have room to move. But most are still sitting on the sidelines.
Here's why. Move up buyers locked into 2 to 3% mortgages aren't selling. First time buyers are waiting for rates to drop. But your mortgage rate is only one line on your monthly housing bill. Property taxes, insurance, HOA dues, closing costs. Housing is inflationary across the board.
Unemployment sits at 4.1% in July. Consumer sentiment? Way below neutral at 55.2 on the University of Michigan index. People feel uncertain even when the job market looks stable.
The opportunity is here. More listings than we've had in five years. Price cuts creating negotiating power. You just need someone who can show you what your real monthly cost looks like in this market.
DM me directly and I will walk you through the full breakdown. I'll get back to you within the hour.
