NSDCC Monthly Listings | bubbleinfo.com

Don’t you love the headlines?

They didn’t go into detail about what the decisive shift was or its impact, but I didn’t either on Tuesday because it sounded like a throw-away quote to me. But if you use it in the main headline, then somebody should address it.

Let’s cover it now, shall we? It’s what happens when we pull into Flat City, and the year-over-year comparisons stop showing increases – that’s all.

They included this quote in their story:

“Buyers will have more leverage in many, but not all, markets,” Sturtevant said. “Sellers will need to adjust price expectations to reflect the transitioning market.”

It’s all based on the second quarter results, which sounds like ancient history to me. Here are some reflections on today’s market:

The surge of listings is slowing.

In the first five months of 2025, the flow of new listings was much hotter than it was last year. We were averaged double-digit increases (12% to 15%) of new listings each month, compared to 2024.

But the flow has subsided, and this month’s count will be lower than last August.

It’s like the supply was pulled forward, and we might end up with about the same number of listings for the year when we’re done:

NSDCC Total Number of Listings, Jan 1 – Aug 31

2024: 2,113

2025: 2,273

Buyers are still in the hunt.

A couple of examples.

I showed a home for sale to my buyers on Tuesday. It was a 3br condo priced in the mid-$700,000s and had been for sale for less than a week. Once we were done, the listing agent called me to ask how it went. I told her that we were going to make an offer. Less than 24 hours later, she marks it pending without giving me any notification that she had another offer, or was about to sell it. I wasn’t sleeping – it is prudent to let as much time go by as possible before offering so the seller enthusiasm might diminish a bit.

There was a $2,500,000 listing that another one of my buyers had some interest in pursuing. But the sellers were on their honeymoon, and the listing agent and I agreed to wait until they get back to make an offer. I literally told him that we would make an offer, yet when I come back at the same time as the honeymooners, the listing is already marked pending. The listing agent tells me that he received an offer over the list price – on a home that was for sale for more than 30 days!

Yes, those are only two examples.

But maybe the tariff talk has tempered and rates have improved just enough to keep buyers in the game. I don’t think the spring selling season has been pushed to fall and will explode now, but there might be just enough buyers left that the quality listings with an attractive price still have an excellent chance of selling!

The rest of the year might be better than expected!