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For loan officers, the shift gives qualified borrowers a better opening to negotiate price, credits and terms without assuming every listing is still a bidding war.
Homebuyer negotiating power improved in August, according to Redfin, which reported there were nearly 58% more home sellers than buyers during the month. Redfin described that spread as the biggest seller-buyer gap in its records, with more homes hitting the market and nearly 3 in 5 homes selling below their original asking price.
For mortgage professionals, the practical point is not that every buyer suddenly has control. It is that the conversation has changed: well-prepared borrowers may have more room to ask for seller concessions, price reductions, repairs or rate-buydown help than they had in the tighter markets of recent years.