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Thought the Market Passed You By? Think Again.
Have you felt like the housing market passed you by? The latest blog from Keeping Current Matters reveal that might not be the case. With affordability improving and more homes hitting the market, buyers in Placer County and beyond are finding new opportunities. This article breaks down what these trends mean locally and why now could be the perfect time to make your move.
Suzanne Volkman
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If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options.
Experts agree, buyers are in a better spot right now than they’ve been in quite a long time. Here’s what they have to say.
Affordability Is Finally Improving
Lisa Sturtevant, Chief Economist at Bright MLS, says affordability is finally starting to turn the corner:
“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
Mortgage rates have eased from their recent highs, price growth has slowed, and that one-two combo is making homes more affordable than they’ve been in months.
There Are More Homes on The Market
And a big reason prices are easing is because there are more homes on the market. According to the latest from Realtor.com, there are 17% more homes for sale today than there were at this time last year. That means more options, less competition with other buyers, and a chance to find the space that actually works for you.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:
“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”
Take a look at the numbers.
As Yun notes, inventory is up everywhere. Compared to this time last year, every region of the country has more homes on the market than at this time last year (see graph below):
That translates to more homes to choose from, whether you’re looking for a bigger backyard, a shorter commute, or finally ditching your rental.
But not all markets are the same…
When you compare current inventory growth to pre-pandemic norms (2017-2019), the picture changes a bit, depending on where you are (see graph below):
The green bars show where inventory has fully recovered (and even grown above pre-pandemic levels) in the South and the West. Supply, however, is still tighter in the Northeast and Midwest, as shown in the red bars, where inventory is still below normal.
And here’s why that’s still a win everywhere.
When you step back and look at the bigger picture, with inventory up in every region, that means more choices everywhere, even if some areas have more homes for sale than others.
And with fewer buyers in the market and more homes for sale, sellers are willing to negotiate to get a deal done.
All of that adds up to a win for today’s buyers.
And it’s also why working with a local expert really makes a difference. What’s happening in your zip code or neighborhood might look different than the national or regional trend. But the overall takeaway is clear: with more homes on the market, buyers have more leverage than they did a year or more ago.
So, if you stepped away from your search because things felt too competitive, too pricey, you were worried about finding a home, or it was all just too much to process, this could be your moment to take another look.
And if you’re not quite ready to go all in, that’s okay too. You can start by planning ahead. That means working with a trusted agent who can help you break down your budget, narrow your search, and make sure you’re prepped and ready when the right home hits the market.
Bottom Line
Want to know what’s happening in your local market? Feel free to give me a call and ask for a custom overview of what’s available right now, so you can learn how to be ready when the timing is right for you.
Because this isn’t 2021.
This isn’t even 2023 or 2024.
This is a new market – and you might be surprised by what you find.
Keeping Current Matters
Why You Don’t Need To Be Afraid of Today’s Mortgage Rates
Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.
The Magic Number
According to the National Association of Realtors (NAR):
“. . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it’s likely that about 10%—or 550,000—of those additional households would buy a home over the next 12 or 18 months.”
When the market hits that mortgage rate sweet spot, as expert forecasters are starting to say is more likely in 2026, the psychological shift to lower rates will kick in for more of today’s hopeful buyers. That will unleash some pent-up demand that’s been waiting on the sidelines, and the increase in activity will cause prices to rise.
And while a 5.99% rate might sound like a big win, if you’re waiting for that number to make your move, it might not actually save you as much as you think. Here’s how the math looks when you run the numbers (see chart below):
On a $400,000 mortgage, the difference between today’s rate (around 6.2%) and 5.99% is roughly $50 a month. That’s less than many people spend on weekly coffee runs or occasional DoorDash orders. And as prices tick up with more buyers in the market, that could quickly negate any of your potential savings.
So, if you’re waiting for 5.99%, that difference might not be worth missing out on today’s opportunities, like having more homes to choose from, better negotiation leverage with today’s sellers, and fewer buyers out there looking for the same houses.
Because the reality is, those benefits start to slip away when more buyers begin to make their moves – and a rate under 6% is exactly they’re waiting for.
Why Acting Now Makes Sense
Jessica Lautz, Deputy Chief Economist and VP of Research at NAR, says:
“Over the last 5 weeks, mortgage rates have averaged 6.31%. This has provided savvy buyers a sweet spot to reexamine the home search process with more inventory, widening their choices.”
And like Matt Vernon, Head of Retail Lending at Bank of America, notes:
“Rather than waiting it out for a rate that they like better, hopeful homebuyers should assess their personal financial situation—if the house is right for them, and the upfront and monthly payments are affordable, it could be the right chance to make a move.”
Bottom Line
If moving at today’s rate scares you, remember, waiting doesn’t always pay off. Once rates dip below 6%, as some experts project they’ll do next year, more buyers (and higher prices) will be back.
So, don’t be afraid of today’s mortgage rates. Because if you’re ready, this might just be your chance to make a move before the market wakes up again.
Keeping Current Matters
To find out what you can afford, head over to my Financial Calculator page.
Why Overpricing Is Hurting Sellers in Today’s Market
If you’re a homeowner thinking about selling—or already on the market—this is a must-read. Ryan Lundquist of the Sacramento Appraisal Blog has penned a powerful open letter to sellers whose homes aren’t moving because they’re priced too high. In today’s shifting market, buyers are more selective than ever, and homes that don’t check all the boxes—especially on price—are being passed over.
Ryan breaks down why the red-hot market of 2021 is behind us, and how today’s buyers are demanding more for their money. He also introduces the concept of the “purple pill”—a combination of price reductions and buyer concessions—as a strategy for sellers to stay competitive.
If you’re wondering why your home isn’t selling or want to avoid common pricing pitfalls, I highly recommend reading the full post. It’s honest, insightful, and packed with practical advice.
2026 Housing Market Outlook
After a couple of years where the housing market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same.
More Homes Will Sell
With all of the affordability challenges at play over the past few years, many would-be movers pressed pause. But that pause button isn’t going to last forever. There are always people who need to move. And experts think more of them will start to act in 2026 (see graph below):
What’s behind the change? Two key factors: mortgage rates and home prices. Let’s dive into the latest expert forecasts for both, so you can see why more people are expected to move next year.
Mortgage Rates Could Continue To Ease
The #1 thing just about every buyer has been looking for is lower mortgage rates. And after peaking near 7% earlier this year, rates have started to ease.
The latest forecasts show that could continue throughout 2026, but it won’t be a straight line down (see graph below):
There’s a saying: when rates go up, they take the escalator. But when they come down, they take the stairs. And that’s an important thing to remember. It’ll be a slow and bumpy process.
Expect modest improvement in mortgage rates over the next year but be ready for some volatility. There will be volatility along the way as new economic data comes out. Just don’t let it distract you from the bigger picture: the overall trend will be a slight decline. Forecasts say we could hit the low 6s, or maybe even the high 5s.
And remember, there doesn’t have to be a big drop for you to feel a change. Even a smaller dip helps your bottom line.
If you compare where rates are now to when they were at 7% earlier this year, you’re already saving hundreds on your future mortgage payment. And that’s a really good thing. It’s enough to make a real difference in affordability for some buyers.
Home Price Growth Will Be Moderate
What about prices? On a national scale, forecasts say they’re still going to rise, just not by a lot. With rates down from their peak earlier this year, more buyers will re-enter the market. And that increased demand will keep some upward pressure on prices nationally – and prevent prices from tumbling down.
So, even though some markets are already seeing slight price declines, you can rest easy that a big crash just isn’t in the cards. Thanks to how much prices rose over the last 5 years, even the markets seeing declines right now are still up compared to just a few years ago.
Of course, price trends will depend on where you are and what’s happening in your local market. Inventory is a big driver in why some places are going to see varying levels of appreciation going forward. But experts agree we’ll see prices grow at the national level (see graph below):
This is yet another good sign for buyers and overall affordability. While prices will still go up nationally, it’ll be at a much more sustainable pace. And that predictability makes it easier to plan your budget. It also gives you peace of mind that prices won’t suddenly skyrocket overnight.
Bottom Line
After a quieter couple of years, 2026 is expected to bring more movement – and more opportunity. With sales projected to rise, mortgage rates trending lower, and price growth slowing down, the stage is set for a healthier, more active market.
So, the big question: will you be one of the movers making 2026 your year?
Keeping Current Matters
Why 50% of Homes Are Selling for Under Asking and How To Avoid It
If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it.
From Frenzy to “Normal”
Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.
But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset, and data shows that’s exactly what’s happening right now.
The graph below uses data from Zillow to show how this trend has shifted over time. Here’s what it tells us:
- 2018–2019: 50–55% of homes sold under asking. That was the norm.
- 2021–2022: Only 25% sold under asking, thanks to record-low rates and intense buyer demand.
- 2025: 50% of homes are selling below asking. That’s much closer to what’s typical in the housing market.
Why This Matters If You’re Selling Your House
In this return to normal, your pricing strategy is more important than ever.
A few years ago, you could overprice your house and still get swarmed with offers. But now, buyers have more options, tighter budgets, and less urgency.
Today, your asking price can be make or break for your sale, especially right out of the gate. Your first two weeks on the market are the most important window because that’s when the most serious buyers are paying attention to your listing. Miss your price during that crucial period, and your sale will grind to a halt. Buyers will look right past it. And once your listing sits long enough to go stale, it’ll be hard to sell for your asking price.
The Ideal Formula
Basically, sellers who cling to outdated expectations end up dealing with price cuts, lower offers, and a longer time just sitting on the market. But homeowners who understand what’s happening are still winning, even today.
Because that stat about 50% of homes selling for under asking also means the other half are selling at or above – as long as they’re priced right from the start.
So, how do you set yourself up for success? Do these 3 things:
- Prep your house. Tackle essential repairs and touch-ups before you list. If your house looks great, you’ll have a better chance to sell at (or over) your asking price.
- Price strategically from day one. Don’t rely on what nearby homes are listed for. Lean on your agent for what they’ve actually sold for. And price your house based on that.
- Stay flexible. Be ready to negotiate. And know that it doesn’t always have to be on price. It may be on repairs, closing costs, or some other detail. But know this: today’s serious buyers expect some give-and-take.
If you want your house to be one that sells for at (or even more than) your asking price, it’s time to plan for the market you’re in today – not the one we saw a few years ago. And that’s exactly why you need a stand-out local agent.
Bottom Line
You don’t want to fall behind in this market.
So, talk to an me about what buyers in your area are paying right now. With my expertise and a strategy that gets your house noticed in those crucial first two weeks, anything is possible.
Keeping Current Matters
Patience Won’t Sell Your House. Pricing Will.
Waiting for the perfect buyer to fall in love with your house? In today’s market, that’s usually not what’s holding things up. And here’s why.
Let’s be real. Homes are taking a week longer to sell than they did a year ago. According to Realtor.com:
“Homes are also taking longer to sell. The typical home spent 60 days on the market in August, seven days longer than last year and now above pre-pandemic norms for the second consecutive month. This was the 17th straight month of year-over-year increases in time on market.”
Part of that is because there are more homes on the market. So, with more options for buyers to choose from, they aren’t getting snatched up quite as fast. But there’s another big reason: price.
The Average List Price Isn’t Going Up – and That Matters
Today, a lot of homeowners are overshooting their list price. They remember the big climb in home prices a few years ago, and they don’t realize how much has changed.
One of the most important, but often overlooked, changes in today’s housing market is this: average list prices have held steady for the past few years.
That’s a big shift from a typical market, where prices were rising steadily each year. And it’s significantly different than the 2021-2022 surge when sellers could set their price just about anywhere and still attract multiple offers over asking.
But now? That trend has leveled off – and sellers who want to stay competitive need to take note (see graph below):
Here’s what this says about today’s market. Buyers are a lot more price sensitive now. And sellers can’t keep trying to inch the bar higher, or their house will sit without any offers.
Homeowners who expect to bring in more than their neighbors did last year may be setting themselves up for a longer, more frustrating experience.
And while homeowners are starting to realize prices can’t keep climbing at such a rapid pace, the hiccup is that list prices aren’t actually coming down yet as a result. They’re hanging around, holding steady. And sellers who make this mistake are often holding onto hope that they’ll be able to eek a few more dollars out of their sale. But that’s the problem right there.
If you want to sell today, you need to be in line with where the market is today. Not last year. Not during the pandemic. Today.
Because buyers will skip over homes that feel overpriced, even if it’s only by a little. It’s not that they aren’t interested. It’s just that in a market with more homes to choose from, buyers can be more selective, and sellers don’t get the same benefit of the doubt. If your house isn’t priced to sell, buyers just move on. They’ve got other options anyway.
4 Signs Your Price May Be Too High
You may already be feeling this yourself. If your home is listed and you’re not seeing results, watch for these common red flags noted by Bankrate:
- You’re not getting many showings
- You haven’t gotten any offers (or you’ve only gotten lowball offers)
- Buyers that do come to see your house leave overly negative feedback
- Your house has been sitting on the market longer than the average for your area
If any of these sound familiar, know that waiting it out won’t fix it. But adjusting your price will.
So, What’s the Solution?
Work with your agent to make sure your house is positioned for today’s market. Depending on your what’s happening in your local area, a few weeks without traction can raise questions for buyers about whether your price is realistic. And don’t worry – it doesn’t have to be a big drop. Even a small adjustment can be enough to bring the right buyers through the door.
And if you’re worried you won’t get the high-ticket sale price you thought you would be able to land, keep in mind that your equity has probably grown quite a bit. Chances are, you’re still ahead of the game simply because you invested in a home over the last 5, 10, or more years. You’re still winning when you sell today.
Bottom Line
Patience isn’t a strategy. Pricing is.
If your home isn’t moving, the market is telling you something – and the right price can change everything. Your house will sell, if you price it strategically.
Keeping Current Matters
What Buyers Say They Need Most (And How the Market’s Responding)
A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below):
Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both of those areas. Let’s break it down so you know what you’re working with.
Prices Are Moderating
Over the past few years, home prices climbed fast, sometimes so fast it left many buyers feeling shut out. But today, that pace has slowed down. For comparison, from 2020 to 2021, prices rose by 20% in a 12-month period. Now? Nationally, experts are projecting single-digit increases this year – a much more normal pace.
That’s a sharp contrast to the rapid growth we saw just a few short years ago. Just remember, price trends are going to vary by area. In some markets, prices will continue to rise while others will experience slight declines.
Prices aren’t crashing, but they are moderating. For buyers, the slowdown makes buying a home a bit less intimidating. It’s easier to plan your budget when home values are moving at a much slower pace.
Mortgage Rates Are Easing
At the same time, rates have come down from their recent highs. And that’s taken some pressure off would-be homebuyers. As Lisa Sturtevant, Chief Economist at Bright MLS, says:
“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
Even a small drop in mortgage rates can mean a big difference in what you pay each month in your future mortgage payment. Just remember, while rates have come down a bit lately, they’re going to experience some volatility. So don’t get too caught up in the ups and downs.
The overall trend in the year ahead is that rates are expected to stay in the low to mid-6s – which is a lot better than where they were just a few short months ago. They may even drop further, depending on where the economy goes from here.
Why This Matters
Confidence in the economy may be low, but the housing market is showing signs of adjustment. Prices are moderating, and rates have come down from their highs.
For you, that may not solve affordability challenges altogether, but it does mean conditions look a little different than they did earlier this year. And those shifts could help you re-engage as we move into next year.
Bottom Line
Both of the top concerns for buyers are seeing some movement. Prices are moderating. Rates are easing. And both trends could stick around going into 2026.
If you’re considering a move, give me a call so that I can walk you through what’s happening in your area – and what it means for your plans.
Keeping Current Matters
What Everyone’s Getting Wrong About the Rise in New Home Inventory
You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary.
But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.
Why This Isn’t Like 2008
While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because new builds are just one piece of the puzzle. They don’t tell the full story of what’s happening today.
To get the real picture of how much inventory we have and how it compares to the surplus we saw back then, you’ve got to look at both new homes and existing homes (homes that were lived in by a previous owner).
When you combine those two numbers, it’s clear overall supply looks very different today than it did around the crash (see graph below):
So, saying we’re near 2008 levels for new construction isn’t the same as the inventory surplus we did the last time.
Builders Have Actually Underbuilt for Over a Decade
And here’s some other important perspective you’re not going to get from those headlines. After the 2008 crash, builders slammed on the brakes. For 15 years, they didn’t build enough homes to keep up with demand. That long stretch of underbuilding created a major housing shortage, which we’re still dealing with today.
The graph below uses Census data to show the overbuilding leading up to the crash (in red), and the period of underbuilding that followed (in orange):
Basically, we had more than 15 straight years of underbuilding – and we’re only recently starting to slowly climb out of that hole. But there’s still a long way to go (even with the growth we’ve seen lately). Experts at Realtor.com say it would take roughly 7.5 years to build enough homes to close the gap.
Of course, like anything else in real estate, the level of supply and demand is going to vary by market. Some markets may have more homes for sale, some less. But nationally, this isn’t like the last time.
Bottom Line
Just because there are more new homes for sale right now, it doesn’t mean we’re headed for a crash. The data shows today’s overall inventory situation is different.
If you have questions or want to talk about what builders are doing in your area, give me a call.
Should You Still Expect a Bidding War?
If you’re still worried about having to deal with a bidding war when you buy a home, you may be able to let some of that fear go.
While multiple-offer situations haven’t disappeared entirely, they’re not nearly as common as they used to be. In fact, a recent survey shows agents reported only 1 in 5 homes (20%) nationally received multiple offers in June 2025.
That’s down from nearly 1 in 3 (31%) just a year ago – and dramatically lower than in June 2023 (39%) (see graph below):
This trend means you should face less competition when you buy. That gives you more time to make decisions and the ability to negotiate price or terms.
It Still Depends on Where You’re Buying
Of course, national trends don’t tell the full story. Local dynamics matter, a lot. This second graph uses survey data from John Burns Research & Consulting (JBREC) and Keeping Current Matters (KCM) to break things down by region to prove just how true that is. It shows, while the share of homes getting multiple offers has dropped pretty much everywhere, some areas are still seeing more offers than others:
In the Northeast, 34% of homes (roughly 1 in 3) are still receiving multiple offers. That’s more than the national average. But in Southeast, that number drops to just 6%.
What’s behind the difference? In general, the areas still seeing bidding wars tend to have lower-than-normal inventory. That imbalance between buyers and available homes keeps pressure on prices and competition. But markets with more listings are seeing conditions cool – and that means fewer bidding wars.
Sellers Are More Flexible Than You Might Think
Here’s another shift to show you just how much things have changed. According to a Redfin report, almost half of sellers are offering concessions, like covering their buyer’s closing costs or dropping their asking price to get their house sold.
That’s a clear sign this isn’t the same ultra-competitive market we saw a few years ago. Back then, sellers rarely compromised. And buyers often waived their inspection or appraisal to try to make their offer stand out. Now, things are different.
But again, how often this is happening is going to vary based on where you’re looking to buy. And that’s why you need a local agent’s expertise.
Bottom Line
If concerns about bidding wars have been holding you back, it may be time to take another look. Nationally, competition is down. In some markets, it’s down significantly. And with more sellers offering concessions, buyers today have more power and flexibility than they’ve had in a long time.
Keeping Current Matters
Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff
Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).
While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?
According to the latest forecasts, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below):
In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely.
Each time there’s changing economic news, there’s a chance mortgage rates will react. And with so many reports coming out this week, we’ll get a better feeling of where the economy and inflation are headed – and how rates will respond.
What Rate Would Get Buyers Moving Again?
The magic number most buyers seem to be watching for is 6%. And it’s not just a psychological benchmark; it has real impact. A recent report from the National Association of Realtors (NAR) says if rates reach 6%:
- 5.5 million more households could afford the median-priced home
- And roughly 550,000 people would buy a home within 12 to 18 months
That’s a lot of pent-up demand just waiting for the green light. And if you look back at the graph above, you’ll see Fannie Mae thinks we’ll hit that threshold next year. That raises an important question: Does it really make sense to wait for lower rates?
Because here’s the tradeoff. If you’re waiting for 6%, you need to realize a lot of other people are too. And when rates do continue to inch down and more buyers jump into the market all at once, you could face more competition, fewer choices, and higher home prices. NAR explains it like this:
“Home buyers wishing for lower mortgage interest rates may eventually get their wish, but for now, they’ll have to decide whether it’s better to wait or jump into the market.”
Consider the unique window that exists right now:
- Inventory is up = more choices
- Price growth has slowed down = more realistic pricing
- You may have more room to negotiate = you could get a better deal
These are all opportunities that will go away if rates fall and demand surges. That’s why NAR says:
“Buyers who are holding out for lower mortgage rates may be missing a key opening in the market.”
Bottom Line
Rates aren’t expected to hit 6% this year. But when they do, you’ll have to deal with more competition as other buyers jump back in. If you want less pressure and more negotiating power, that opportunity is already here – and it might not last for long. It all depends on what happens in the economy next.
Give me a call to find out what’s happening in your area and whether it makes sense to make your move now, before everyone else does.
Suzanne Volkman | Broker Associate | DRE#0070219 | 916-847-1445
