Are we in a buyer’s market?

No, not yet.

For a buyer’s market to actually happen, it would take sellers to acknowledge it, and act accordingly. Acknowledging it means lowering their price until they get offers, and then cut a deal with one of them.

We’re a long ways off from that happening.

Instead, let’s call it the ‘tariff transitory whoop-de-doo market’ for now.

It’s code for a paused, standoff, you-go-first market.

Previously, buyers hoped for mortgage rates to get under 6% to excite them, but now it’s going to take mid-5s at least to get them to re-engage. It will be too easy for them to pause for at least a week or two to see if the tariff talk scares any sellers to dump on price. Besides, they’ve seen all the current inventory and didn’t like any of it. Not at those prices anyway.

But the drop in rates has stalled. Inflation fears should keep them stalled.

If the rates don’t get the buyers going, then what’s left?

That’s right – there’s nothing price won’t fix!