Are We In a Buyer's Market Yet? Not Quite, But We're Getting Close

There’s a question I’ve been getting a lot lately: Are we in a buyer’s market now? And the honest answer is... not quite. But we’re definitely moving in that direction—or at least, toward something that feels a lot more balanced than what we’ve seen in recent years.

Just a couple of years ago, homes were flying off the market within days, often with multiple offers and bidding wars. Now, with inventory levels steadily increasing across North Central Florida, buyers finally have more options to choose from. That’s a big shift.

But more choice doesn’t necessarily mean buyers are flooding back in. High interest rates and overall affordability challenges are still holding demand in check. People are feeling the weight of inflation and economic uncertainty, and they’re understandably cautious.

Instead of jumping on the first home they see, buyers are slowing down. They’re being selective, sometimes even choosing to rent a little longer while they wait to see what happens with mortgage rates, inflation, and the job market. And that’s fair—it’s a big decision. In fact, I encourage clients to be thoughtful and intentional, especially in this type of market.

Home prices aren’t crashing. What we’re seeing instead is a sort of plateau. Prices have stabilized, and in some neighborhoods, we’re even seeing modest price reductions. But the wild growth we got used to between 2020 and 2022? That’s cooled way down.

So, is this a buyer’s market? Technically, no. We're still somewhere in between. But the gap between buyers and sellers is narrowing. We’re seeing a more even playing field take shape—something that benefits both sides when approached strategically.

If you’re thinking of buying, this is actually a great time to be intentional. You have room to negotiate, time to think, and the opportunity to make a choice you feel really good about—not one that’s rushed or reactive.

And if you're selling? It's important to be realistic and understand that your home needs to stand out—especially if it's priced near new construction or similar listings with builder incentives.

We might not be in a full-blown buyer’s market yet, but we’re definitely not where we used to be—and for many, that’s a welcome change.