For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them.

But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement this fall.

The latest data from Redfin shows the typical monthly mortgage payment has been coming down, and is now about $290 lower than it was just a few months ago (see graph below):

And here’s why this is happening. The cost of buying a home really comes down to three things:

• Mortgage rates
• Home prices
• Your wages

Right now, all three are finally moving in a better direction for you. While that doesn’t mean it’s suddenly easy to buy at today’s rates and prices, it does mean it’s not as challenging.

1. Mortgage Rates

Mortgage rates have come down compared to earlier this year. In May, they were roughly 7%. And now, they’re closer to 6.3% (see graph below):

That may not sound like a big deal, but it does matter. Even small changes in rates can make a difference in your future monthly payment. Compared to when rates were 7%, if you take out an average $400K mortgage now at 6.3%, it’ll cost about $190 less a month based on just rates alone.

And for some people, that’s been enough to make buying a home possible again. As Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explained on September 10^th:

“The downward rate movement spurred the strongest week of borrower demand since 2022 . . . Purchase applications increased to the highest level since July and continued to run more than 20 percent ahead of last year’s pace.”

2. Home Prices

After several years of prices rising very rapidly, price growth has finally slowed. As Odeta Kushi, Deputy Chief Economist at First American, puts it:

“National home price growth remains positive, but muted — low single digits — and we expect this trend to continue in the second half of the year.”

For buyers, that’s actually a big relief. That moderation makes it easier to plan your budget. And in some markets, prices have even dipped slightly. If you’re in one of the markets, you may be able to find something that’s more affordable than you’d expect.

3. Wages

According to the Bureau of Labor Statistics (BLS), wages are up near 4% annually. Lawrence Yun, Chief Economist at NAR, explains why that number is so important right now:

“Wage growth is now comfortably outpacing home price growth, and buyers have more choices.”

In other words, the typical paycheck is rising faster than home prices right now, which helps make buying a little more affordable. Now, it’s not a big difference, but in a market like this, every bit counts.

What This Means for You

Lower rates, slower price growth, and stronger wages might be enough to make the numbers finally work for you this fall.

While affordability is still tight, it’s a little easier on your wallet to buy now than it was just few months ago. Remember, data from Redfin shows the typical monthly mortgage payment is already around $290 lower than it was earlier this year.

Have you been wondering if it’s worth taking another look at buying?

Let’s run the numbers together. We can go over your budget, see what’s changed, and figure out if this fall is the time to turn window-shopping into key-turning.

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.

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.

Want to find out what the market looks like where you’re buying? Let’s connect.

Did you know? According to a recent study, 72% of people with student loans think their debt will delay their ability to buy a home. Maybe you’re one of them and you’re wondering:

• Do you have to wait until you’ve paid off those loans before you can buy your first home?
• Or is it possible you could still qualify for a home loan even with that debt?

Having questions like these is normal, especially when you’re thinking about making such a big purchase. But you should know, you may be putting your homeownership goals on the backburner unnecessarily.

Can You Qualify for a Home Loan if You Have Student Loans?

In the simplest sense, what you want to know is can you still buy your first home if you have student debt. Here’s what Yahoo Finance says:

” . . . student loans don’t have to get in your way when it comes to becoming a homeowner. With the right approach and an understanding of how debt impacts your home-buying options, buying a house when you have student loans is possible.“

And the data backs this up. An annual report from the National Association of Realtors (NAR), shows that 32% of first-time buyers had student loan debt (see graph below):

While everyone’s situation is unique, your goal may be more doable than you realize. Plenty of people with student loans have been able to qualify for and buy a home. Let that reassure you that it is still possible, even as a first-time buyer. And just in case it’s helpful to know, the median student loan debt was $30,000. As an article from Chase says:

“It’s important to note that student loans usually don’t affect your ability to qualify for a mortgage any differently than other types of debt you have on your credit report, such as credit card debt and auto loans.”

If your income is steady and your overall finances are solid, homeownership can still be within reach. So, having student loans doesn’t necessarily mean you have to wait to buy a home.

Having student loans doesn’t mean buying a home is off the table. Before you count yourself out, talk to a lender to get a clearer picture of what you can afford and how close you are to taking the first step toward homeownership.

Now that spring is here, more and more buyers are jumping back into the market, and competition is heating up.

If you’re serious about landing a home you’ll love, you need more than just a wish list. You need a smart strategy – and that starts with working with a great agent who can help you put together a strong offer.

Here are some top tips your agent will share with you that are helping buyers stand out (and win) in today’s market.

1. Don’t Lowball on Price

It’s tempting to start with a super low offer in an attempt to save money. But in a competitive spring market, that could backfire. If the price isn’t reasonable, you could offend the seller and lose out to a better bid. As NerdWallet says:

“If you really want the property, you should avoid offending the seller. So, be wary of placing a so-called lowball offer. One of the most obvious risks of making a lowball offer is outright rejection. . . As a buyer, you’ll need to find a balance between making a fair offer and running the risk of losing the property.”

Your agent can help you understand local pricing trends and what a fair, yet strong offer looks like this season.

2. Consider an Escalation Clause

If you’re worried about competing bids, an escalation clause can help. If you have an escalation clause and the seller gets another offer, it increases yours up to a certain max amount you set. That way you don’t lose out over a small difference. Investopedia explains it like this:

“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”

Work with your agent to decide if this tactic fits your situation and budget. Just be sure not to stretch beyond what you’re truly comfortable spending and that the home is likely to appraise for the amount you offer.

If the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh these risks and determine the best approach for your specific situation.

3. Be Intentional About the Concessions You Ask For

While some concessions (like help with closing costs) might be possible, too many demands could make another buyer’s cleaner offer more attractive. As the National Association of Realtors (NAR) notes:

“There are many factors up for discussion in any real estate transaction—from price to repairs to possession date. A real estate professional who’s representing you will look at the transaction from your perspective, helping you negotiate a purchase agreement that meets your needs . . .”

An agent who knows what’s working for other buyers in your area can help you prioritize the most important asks – and avoid ones that could turn off the seller.

4. Consider a Timeline That Appeals to the Seller

Sometimes, it’s not just about price, it’s about timing. Does the seller need extra time to move out? Or do they want to move as soon as possible? Flexibility here can work in your favor. By adjusting your timeline (if you’re able to), you could stand out against other offers. According to Atlas Van Lines:

“Everyone will have a unique timeline depending on the size of the move, the distance they are moving from or to, and personal preferences. It is important to be flexible and adapt the timeline as needed while ensuring you allocate enough time for each step.”

Your agent can communicate with the seller’s agent to find out what matters most, including timing.

Spring is here – and more buyers are entering the market. Let’s work together to make sure your offer stands out.