The housing market continues to move toward a more balanced environment, creating a different experience for both home buyers and sellers than we’ve seen over the past several years.
Sellers are becoming more realistic about pricing, buyers have more opportunities to negotiate, and mortgage rates are expected to remain relatively stable. That doesn’t mean the market has stopped moving. It means having the right strategy matters more than ever.
Whether you’re considering buying or selling a home in Georgia, here’s what you need to know about the current real estate market.
More homeowners are putting their properties on the market. New listings increased 2.4% year over year in June, with homeowners listing at the fastest pace since 2022.
At the same time, asking prices fell 2.5% year over year, the steepest annual decline reported by Realtor.com since 2017. This appears to be less about seller distress and more about sellers adjusting their expectations to meet the realities of today’s market.
For sellers, this reinforces something we continue to see: pricing your home correctly from the beginning matters.
Buyers have more choices, and they’re paying close attention to value. Homes that are priced appropriately and show well can still attract strong interest, while overpriced homes may struggle to generate the same activity.
Affordability remains one of the biggest concerns for today’s home buyers. Concern about home prices jumped 20 percentage points among buyers from the first to the second quarter.
However, buyers also have something they haven't had as much of in recent years: negotiating power.
Nearly half of U.S. sellers gave concessions to buyers in May. Depending on the property and local market, buyers may be able to negotiate on more than just the purchase price.
Opportunities can include:
Every property and transaction is different, but buyers shouldn't assume that the asking price and terms are set in stone.
Mortgage rates are currently hovering in the mid-6% range, and forecasts suggest they may remain relatively stable.
Many potential buyers are still waiting and hoping to see mortgage rates fall below 5%. Current projections, however, don't point toward a significant drop anytime soon.
Instead of focusing only on what rates might do, buyers may want to look at the opportunities available in the market today.
A motivated seller may be willing to contribute toward a rate buydown or closing costs. New construction homes can also present opportunities, as builders may offer financing incentives or other concessions that help make a purchase more affordable.
The right question isn't always, "When will mortgage rates come down?" Sometimes it's, "What options are available to make buying a home work for me right now?"
Real estate is local. National housing market trends give us a helpful look at the bigger picture, but home prices, housing inventory, buyer demand, and negotiating opportunities in Georgia can vary significantly from one city, county, and neighborhood to another.
For sellers, this is a market where strategic pricing and realistic expectations are important from the beginning.
For buyers, having more inventory and negotiating power can create opportunities that weren't as readily available during the highly competitive market of a few years ago.
Most importantly, don't let national headlines make the decision for you. Understanding what's actually happening in your local market, and how it relates to your specific goals, is what matters.
If you're considering buying a home, selling a home, or investing in real estate in Georgia, the team at Sanders Real Estate can help you understand your local market, evaluate your options, and build a strategy around what makes sense for you.
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