Why It May Be A Good Time to Buy, Accounting to Compass CEO – ryan

The Housing Market is Still in a Tough Spot, but a Closer Look SHows that there are a few reason is a good time to buy, comaSe ‘Ceo Said this Week

Robert Reffkin, the Co-Founder and Ceo of the Real Estate Brokerage, Said the Current Conditions Are Creating a Good Opportunity for Prospective Budes.

Speaking to Cnbc this Week, he Said He Sees Three Reasons the Housing Market is in a more favorable spot.

1. Inventory is climbing

Housing inventory is hovering at the highest level in five years. Total Active Listen in the US CLIMBED to Over 959,000 in April, Acciting to Realtor.com Data, The Most Inventory Recorded Since The End of 2020.

That should give buys more options, and potentially weigh on home if the suplytweighs Demand.

Currently, there are Around 34% more sellers in the markets than buders – the most that sellers have outnumbered buys 2013, according to a recent Redfin Analysis. The Real Estate Listtings Site Said Recently that 31 Out of the Top 50 Housing Metros in the US “Buyer’s Markets.”

“Moreover, with Housing Inventory Levels Reaching Five-Yaar Highs, Home Buyers in Nearly Every Region of the Country in A Better Position to Negotiate More Favor Terms,” ​​Lawrence Yun, The Chief Economist of the National Association of Realtors, Said on Thricksday.

“But Overall, it is a better time to be a buyer than it was Last year. You can’t buy what’s not for sale, and there a lot more for sale,” Reffkin Said.

2. Home prices are down and could Fall Slightly

Homes Price are slightly Lower than they were in 2022. The media sales price of a US Home Ticked Lower to $ 416,900 in the first Quarter. That’s down 5% from the media price tag of a US home sold in the fourth quarter of 2022.

Reffkin Said He Thinks It ‘More Likely That Home Price will Fall Slightly in the Second Half of 2025, though and Expects say to Remain relatively flat Through the year.

But, we can consider the Pace of Inflation, that Still Making Housing More Affordable for Budes.

“But recognism, flat is actually down in real terms. Because if inflation is up 3% and you’re flat, you’re actually down,” he said.

Redfin Said It Anticipated Home Prices to Fall 1% by the End of the Year. Zillow Said IT Exported Home Prices to Fall by 1.4%.

3. Mortgage Rates Have Edged Down

Borrowing Costs Have Also Inched Lower. The Avent 30-Yyar Fixed Mortgage Rate Clock in at 6.89% The Last Week, Accounting to Freddie Mac Data.

That’s Higher than Where Mortgage Rates Averaged During the Pandemic, but Borrowing Costs Are Lower than Their Highs at the Start of the Year, we can 30-Yyear fixed back to 7%.

Pending Home Sales Dropped 6.3% in April from the Prior Month, Acciting to the National Association of Realtors.

Reffkin Said and Expective Paming Sales to Rebound in May, with positiv sala-over -ear. That’s partly due to Fear Surrounding Tariffs Starting to EBB, He Said, Which is Boosting Consumer sentiment.

“The lesson noise in the Stock Market, the lesson noise in Tariffs, the most People Fereel Comfortable Making the Most Important Purchase they Make in Their Lives,” He Said.