If you're thinking about buying a home this November, the market may be giving you something buyers haven't had as much of in recent years:

More room to negotiate.

Here's what's happening nationally.

Active inventory is now 6.3% higher than it was a year ago, while the median listing price is down 1.4% year over year.

And there's another trend buyers should be paying attention to: more sellers are cutting their prices.

In September, 20.8% of listings had a price reduction, the highest monthly share since October 2022.

What does that mean for buyers?

It doesn't mean every seller is desperate to make a deal.

But it does mean buyers have more options than they did when inventory was tighter.

And when you have more options, you have more opportunities to be strategic.

If you're shopping for a home this November, don't just look at the asking price.

Look at how long the home has been on the market.

Check whether the seller has already reduced the price.

And most importantly, look at how comparable homes are actually selling.

Those details can tell you a lot more about your negotiating position than the list price alone.

A home that's been sitting on the market, already had a price reduction, and is competing with several similar properties may give you more room to negotiate than a newly listed home that's priced correctly.

The key is knowing the difference.

November could give buyers more choices, but the best opportunities still come from understanding the numbers and knowing how to approach the negotiation.

Thinking About Buying This November?

If you're wondering what your options look like in today's market or how to approach a home that's been sitting on the market, let's have a conversation before you make an offer.

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