Buyers have officially adjusted to the “new normal” in mortgage rates. According to Builder Online, consumers are no longer waiting for a significant drop in rates, as indicated by a YoY increase in pending home sales, and are moving forward with purchases, armed with recalibrated expectations.
This shift has empowered buyers in new ways. With the housing market gradually moving away from a seller’s market, buyers are finding themselves in a stronger position to negotiate on price and terms – a trend we expect to continue into 2025.
For real estate investors, this evolving landscape presents opportunities to capitalize on a more balanced market. Strategic acquisitions in areas where buyers are actively adjusting could offer significant upside.
Source: Builder Staff. December 30, 2024. Consumers Appeared to Have Recalibrated Expectations Regarding Mortgage Rates. BUILDER Online.
