Why a record buyer’s market still isn’t helping buyers qualify

Date:

Share post:


There were an estimated 1.53 million home sellers active in the market nationwide in August, the most since the start of 2020, while the number of active buyers barely moved from July’s record low. Nashville alone saw an estimated 139.3% more sellers than buyers, the widest gap of any metro Redfin tracks.

On paper, that kind of imbalance should hand buyers real leverage. Home price growth has already cooled to 1.6% year over year across the nation’s buyer’s markets, compared with 5.5% in the five remaining seller’s markets, according to Redfin.

Having more room to negotiate does not help a buyer who cannot qualify for the loan in the first place, and elevated rates and prices are still keeping plenty of would-be buyers on the sidelines, particularly those sitting just above conforming loan limits.

Kyle Schoenmaker (pictured top), SVP of sales at Rocket Pro, said navigating a market like this requires brokers to think outside the box.

“In a challenging market, it really requires a lot of the lenders to be creative with the solutions that they’re providing,” Schoenmaker told Mortgage Professional America. “If I had to offer one piece of advice for all of the brokers out there, it would be to stay curious. Now is the best time to ask questions, find the best competitive advantage for them, and make sure that they’re doing truly what’s right by their clients and by their business.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Gen Z is treating the midterms like a market event. Boomers are treating them like weather

Gen Z investors are scrambling to protect their portfolios from political uncertainty as the midterms approach, but...

New Albertsons forU™ American Express® Card, Earn Up to 5% on Groeries

New Albertsons forU™ American Express® Card Albertsons Companies, American Express and Imprint today announced the launch of the...

America’s Scariest Job Isn’t Mortician or Ghost Hunter. It’s a Role That Pays Below the Median

A new ranking puts animal control officers ahead of paramedics and emergency physicians for exposure to bites,...

Best Crypto Trading Broker 2026 | Sabse Best Crypto Exchange Kaun Hai? | Best Trading App For Crypto

Cryptocurrency me trading karne ke liye sabse achha broker | which broker is best for crypto trading |...