Andrew Vaitkevicius: Pending Home Sales Hit Record Lows

REAL ESTATE MARKET UPDATE

-7.3% September Pending Sales. Pending home sales fell sharply in September, with the West experiencing an even steeper 9.2% decline.

BREAKING: US Pending Homes Sales collapsed -7.3% in September, to
their lowest level on record in data going back to 2001. The West saw the steepest decline of -9.2%, while sales in the South, the biggest home-selling region, fell -8.2%. The housing market is frozen.

What Does This Mean?

FOR SELLERS

Homes may be taking longer to attract offers, but serious buyers remain active. Pricing, presentation, and creating additional value are increasingly important to getting a deal done.

FOR BUYERS

There are meaningful opportunities to negotiate. Motivated sellers may be open to reasonable, well-supported offers, creating opportunities for buyers who are ready to act.

My Takeaway

While the headlines may sound alarming, I want to emphasize that homes are still selling, buyers are still buying, and deals are happening every day. I’m seeing this firsthand in my own transactions and conversations with buyers and sellers.

The market has shifted, but that doesn’t mean opportunities have disappeared. It simply means that pricing, preparation, and negotiation matter more than ever. For sellers, the right strategy can still produce a great outcome. For buyers, there’s an opportunity to negotiate terms that may not have been possible in a more competitive market.

I’m actively working with both buyers and sellers and would love to be a resource for you if you’re considering making a move.

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