A shifting Houston market
Wondering if they were "absolutely out of [their] minds," their kids advised against the purchase. Even as they were being told they should be downsizing, not upsizing, the Woolcoxes decided to put in on the house anyway. In an interview with KHOU 11, the couple shared, "If it's really what you want and it feels right, just do it."
And there is indication their decision will pay off.
Kat Robinson, vice chair of the Houston Association of Realtors (HAR), told KHOU 11 that fear and — at times — frustration for potential buyers caused by the strong sellers' market led many to give up, tipping the favour towards buyers.
"That negotiation fatigue is real," she said, and is something that led to an influx of housing inventory and the potential buyer's market shift. Although technically, Houston is currently in a balanced market, "Right now we're sitting on 4.5 months of inventory, which puts us leaning more towards that buyer's market."
HAR confirms this tip when comparing property sales from February 2024 and February 2025, noting sales dropped 4.7%. According to Robinson, this means more opportunity for buyers, "To get a discount or more repairs done by the sellers or credits for those repairs."
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Learn MoreHow to take advantage of a buyer's market
Even if you’re not in Houston yourself, a buyer’s market is the perfect time to purchase a home because supply exceeds demand — just as Houston is experiencing. This gives you more power in negotiations, including the ability to be pickier, take your time and strategize on price.
If you feel the time might be right, maximize your opportunity with these tips:
Negotiate your price aggressively
Sellers in a buyers' market may struggle to get offers, making them more open to price reductions. Take time to research comparable properties sold recently in your choice areas to determine a fair offer, and don’t be afraid to submit a bid below asking. If the home has been on the market for an extended period, you may have even more room to negotiate.
Ask for seller concessions
In a competitive market, buyers often cover many closing costs, but in a buyers' market, you can ask the seller to help with expenses, which could save you thousands. These may include loan or appraisal fees, title insurance or even a home warranty. Why not put that money towards new furniture, or even in your nest egg, emergency fund or other investments? Even relatively small savings can make a meaningful difference, so ask for them.
Request home repairs or upgrades
Sellers eager to close a deal may be willing to make needed repairs, or even extra upgrades. When issues are identified after the home inspection, negotiate to have major concerns fixed before closing, or request a credit to cover the cost of repairs you oversee later.
In addition, consider taking advantage of these strategies:
Get pre-approved for a mortgage to move quickly
With more buyers competing for deals, getting pre-approved for a mortgage shows sellers you’re serious and financially prepared, which can make your offer more attractive.
Work with a local agent for market insights
A knowledgeable real estate agent can help you identify motivated sellers, hidden deals and properties that have been on the market too long, giving you an edge in negotiations. Agents also provide insight into fair pricing and trends in your area of interest.
Secure favorable loan terms
Lenders may offer better mortgage interest rates and terms when fewer buyers are in the market. You could potentially secure a lower mortgage rate, reducing your monthly payments and overall loan cost.
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