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For the past few years, many buyers have felt stuck. Limited inventory, higher interest rates, and affordability challenges made it difficult for families to find the right home at the right price.
But there may be a shift beginning in the housing market that could create new opportunities for buyers who are prepared.
According to a recent report from Redfin, empty nesters currently own 28% of the nation’s larger homes, while millennial families own just 16%. Even more notable, nearly 58% of those empty nesters no longer have a mortgage on their home.
That matters because many of these homeowners are no longer financially tied to staying where they are. As affordability improves and life circumstances change, experts believe more homeowners may begin downsizing over the next several years — potentially creating additional inventory in the family-home market.
For buyers, this could be very important.
More inventory often creates:
- More choices for buyers
- Less pressure to make rushed decisions
- Better negotiating opportunities
- A more balanced market overall
But there’s another side to the conversation buyers should understand:
When more desirable homes hit the market, prepared buyers will still have the advantage.
The buyers who are already pre-approved, financially organized, and working with the right professionals will be in the strongest position to move quickly and confidently when opportunities appear. Buyers who wait until inventory rises before starting the financing process may still find themselves behind the competition.
That’s why now can be an excellent time to begin preparing — even if you’re planning to buy several months from now.
A good mortgage strategy today can help you:
- Understand your purchasing power
- Identify affordable financing options
- Improve your buying position
- Create a plan before competition increases again
The market is always changing, and opportunity often belongs to the buyers who are prepared before everyone else notices the shift.
If you’re thinking about buying a home, now is a great time to put together a game plan and explore what options may be available to you.
Contact us today to discuss your options and see what you may qualify for! [email protected]