Downsizing Without Debt: How More Homeowners Are Buying Their Next House in Cash

Why 50% of Homes Are Selling for Under Asking and How To Avoid It If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. From Frenzy to “Normal” Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality . But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market needed a reset, and data shows that’s exactly what’s happening right now. The graph below uses data from Zillow to show how this trend has shifted over time. Here’s what it tells us: 2018–2019: 50–55% of homes sold under asking. That was the norm. 2021–2022: Only 25% sold under asking, thanks to record-low rates and intense buyer demand. 2025: 50% of homes are selling below asking. That’s much closer to what’s typical in the housing market. Why This Matters If You’re Selling Your House In this return to normal, your pricing strategy is more important than ever . A few years ago, you could overprice your house and still get swarmed with offers. But now, buyers have more options, tighter budgets, and less urgency. Today, your asking price can be make or break for your sale, especially right out of the gate. Your first two weeks on the market are the most important window because that’s when the most serious buyers are paying attention to your listing. Miss your price during that crucial period, and your sale will grind to a halt. Buyers will look right past it. And once your listing sits long enough to go stale, it’ll be hard to sell for your asking price. The Ideal Formula Basically, sellers who cling to outdated expectations end up dealing with price cuts , lower offers, and a longer time just sitting on the market. But homeowners who understand what's happening are still winning, even today. Because that stat about 50% of homes selling for under asking also means the other half are selling at or above – as long as they're priced right from the start. So, how do you set yourself up for success? Do these 3 things: Prep your house. Tackle essential repairs and touch-ups before you list. If your house looks great, you’ll have a better chance to sell at (or over) your asking price. Price strategically from day one. Don’t rely on what nearby homes are listed for. Lean on your agent for what they’ve actually sold for. And price your house based on that. Stay flexible. Be ready to negotiate. And know that it doesn't always have to be on price. It may be on repairs, closing costs, or some other detail. But know this: today’s serious buyers expect some give-and-take . If you want your house to be one that sells for at (or even more than) your asking price, it’s time to plan for the market you’re in today – not the one we saw a few years ago. And that’s exactly why you need a stand-out local agent . Bottom Line You don’t want to fall behind in this market. So, let's talk about what buyers in our area are paying right now. With local expertise and a strategy that gets your house noticed in those crucial first two weeks, anything is possible. Want to know what your house would sell for?

Why Buyers and Sellers Face Very Different Conditions Today There’s a new divide in housing right now. In some states, buyers are gaining ground. In others, sellers still have the upper hand. It all depends on where you live. Curious what's happening in your state? These 3 maps show how the split is playing out across the country. In each one: Darker Shades of Blue = Buyer friendly Lighter Shades of Blue = Seller strong Inventory Sets the Stage While the number of homes for sale has improved pretty much across the board, how much growth we’ve seen can look dramatically different based on where you live. And that impacts who has the leverage today. This map uses data from Realtor.com to break it down: The darker shades of blue show where inventory has risen more than in other areas of the country. Buyers here have more to choose from and should have an easier time finding a home and leveraging their negotiating power. The lighter shades of blue are where inventory is still low. Sellers are more likely to sell quickly and make fewer concessions. Prices Follow Inventory The second map tracks how home prices are shifting by state. Just like above, you can see the divide taking shape. Many of the same areas are darker blue . That’s because there’s such a close tie between inventory and prices. When inventory rises, prices moderate. The darker shades of blue are where prices are actually coming down slightly or flattening. Because, with more homes for sale, sellers may have to cut their price or throw in concessions to get a deal done. And that benefits budget-conscious buyers . The lighter shades of blue show areas where prices are still climbing because inventory is low. Sellers may still see buyers competing for homes, and that pushes prices higher. Time on Market Tells the Same Story Finally, here’s how quickly homes are selling state by state. See the colors? For the most part, they follow the same general pattern with a lot of the darker blues being in the lower half of the country. And here’s why. Generally speaking, as inventory grows, homes don’t sell as quickly. That’s why some of the same areas that have more inventory, see homes take more time to sell. The darker blues show where homes are staying on the market longer. That gives buyers more time and options, and signals sellers may need to adjust their expectations. The lighter blues are where homes are still moving quickly. Sellers there may feel more confident, and buyers may need to act fast. This explains why some sellers in these darker blue states are feeling frustrated when their listings linger, while others in tighter markets (like the lighter blue states) are still seeing their homes sell quickly. Why an Agent’s Local Expertise Is the Key To Unlocking Today’s Market Basically, the housing market is experiencing a divide. And conditions are going to vary a lot based on where you live, where you’re moving, and if you’re buying or selling. While the state-level information helps, what really matters is what’s happening in your town and your neighborhood. And only a local agent truly has the information you need. Bottom Line Want to know what conditions look like in your neighborhood? If you want to understand which side of the market you’re on, let’s connect. We can walk through the numbers and what they mean for your next move.