Housing Data Gives Buyers More Leverage | “The Veteran’s Realtor”

As someone who thrives on negotiation and putting clients first, I pay close attention to market shifts that give buyers a stronger hand. Right now, about 21% of active listings have had price cuts, with inventory reaching over 1.16 million homes—just about 9% below pre-pandemic levels. Buyer activity remains measured, with homes under contract down approximately 4% year-over-year for the second month in a row. This clearly reflects how higher mortgage costs are still weighing on affordability. The national median list price currently sits around $419,000, down 1% both month-over-month and year-over-year—a trend that’s continued for 11 months. Price per square foot has also slipped by 2% compared to last year. Sellers are staying in the game, with about 6% of listings delisted, holding steady from last year, but more are open to negotiating and adjusting their prices. The big question ahead is whether these price cuts will translate into more deals, or if we’ll continue to see growing supply and softer demand. For those looking to make a move in DC or Maryland, understanding these trends is key—especially if you want to win the negotiation.