As we enter the final months of 2024, the housing market is showing favorable conditions for potential buyers, according to the latest data from Realtor.com’s September 2024 report. Here are a few reasons why it might be the perfect time to get back into the market.

1. More Listings Available

The number of active home listings has increased year-over-year, providing buyers with a wider range of options. According to Realtor.com, total active listings rose by 7.2% in September, which is a strong indicator of improved inventory levels. This increase gives buyers the advantage of more choices without the same level of competition seen in previous years when inventory was critically low.

2. Price Growth is Slowing

While home prices remain elevated compared to historical averages, the growth rate has cooled considerably. Median listing prices were up only 3.7% year-over-year in September 2024, signaling a stabilization in price increases after years of double-digit growth. For buyers, this means that homes are not appreciating at the rapid pace they once were, making it easier to secure a good deal before prices start rising again.

3. Sellers are More Willing to Negotiate

With homes taking longer to sell than during the height of the pandemic, sellers are becoming more flexible. The median days on market increased by 8 days compared to last year, meaning homes are staying on the market longer, giving buyers more leverage to negotiate on price or closing terms. Whether you’re a first-time buyer or moving to a new home, this shift could help you save on your purchase.

4. Mortgage Rates are High, but Timing May Work in Your Favor

Yes, mortgage rates are higher than in recent years, but experts predict that rates could start to stabilize or even decrease as inflation gets under control. Locking in a mortgage now could still be a smart move, especially with the increasing likelihood that future price appreciation will outpace any potential rate reductions.

Northeast Financial Offers Unique Advantages

At Northeast Financial, we stand out by providing more solutions than a direct lender. As a mortgage broker, we have access to a broader range of loan products, which means we can help tailor financing to your unique needs. Combine that with our market-leading wholesale pricing, and you’ll find that we offer a winning combination: competitive rates with unmatched flexibility.

While the housing market is showing signs of stabilization, you still need the right partner to navigate your home buying journey. Let us help you capitalize on this favorable moment and find the perfect solution for your financing needs.

For more insights on market trends, check out the full Realtor.com report here.