Last year, the real estate market was so hot that many buyers had to pay over asking price and struggled to get favorable terms But today’s housing market is allowing buyers more room for negotiation and discounts.

This sets the stage for a potential opportunity. There are signs that inflation is beginning to ease, and long-term rates tend to follow inflation. If interest rates decline, home prices would become affordable to more buyers.

At the same time, inventory levels remain well below historical averages. If the level of buying activity increases in a market with tight supply, prices will be well supported. And remember, there are ways for buyers to bring their payment down today with a temporary or permanent buydown.