The Return of the Patient Home buyer
More choices. More negotiating room. And finally, a little time to think.
Monday, August 10, 2026 | Issue #9
For several years, buying a home sometimes felt less like making a major financial decision and more like competing on a game show.
Tour the house Saturday.
Offers due Sunday.
Best and final by Monday.
Waive a few things you’d normally never consider waiving.
And somewhere in there, apparently, you were supposed to decide whether you actually liked the house.
That market hasn’t disappeared everywhere. Good homes in desirable neighborhoods can still attract plenty of attention.
But something important has changed in many markets—particularly here in Texas.
Buyers have more choices. And with more choices comes something that’s been in very short supply: time.
Time to compare homes. Time to inspect them carefully. Time to understand the financing. And, increasingly, time to negotiate.
That may be one of the most underappreciated changes in today’s housing market.
More Inventory Changes the Conversation
According to the Texas Real Estate Research Center, Texas had approximately 145,900 active listings in its June housing data, with statewide inventory running roughly 40%–50% above 2019 levels.
That’s a very different environment from the severe inventory shortages buyers faced just a few years ago.
More inventory doesn’t necessarily mean inexpensive homes, and it certainly doesn’t mean every seller is desperate to negotiate.
What it does mean is choice.
When there are three reasonable homes to consider instead of one, buyers don’t have to approach every listing as though it might be their last opportunity.
They can compare neighborhoods, condition, taxes and monthly payments. And they can ask a question that became strangely uncommon during the frenzy:
“Is this actually the right house for me?”
That’s progress.
The Asking Price Is Becoming a Starting Point Again
There’s another interesting number buried in the Texas data.
Median seller price reductions have recently been approximately $19,000 in Austin, $12,500 in Dallas-Fort Worth, and $15,000 in both Houston and San Antonio, according to the Texas Real Estate Research Center.
That doesn’t mean every home is overpriced.
It does tell us sellers are adjusting to a market where buyers have alternatives.
National data points in a similar direction. Realtor.com‘s midyear housing outlook reported the typical home selling for roughly 97% of its original asking price.
A few percentage points may not sound dramatic.
On a major purchase, they can be.
More importantly, price isn’t the only thing buyers can negotiate.
And this is where the conversation gets interesting.
Sometimes the Best Negotiation Isn’t the Price
Suppose a seller is willing to make a concession.
Most buyers immediately think:
Lower the price.
Sometimes that’s absolutely the right answer.
But depending on the buyer’s situation and loan program, seller concessions may also be used toward closing costs, prepaid expenses or an interest-rate buydown.
A seller-paid concession used strategically can preserve a buyer’s cash after closing or potentially reduce the monthly payment.
That can matter.
Because the financial goal shouldn’t simply be:
“How cheaply can I buy the house?”
It should also be:
“How comfortably can I own it?”
Those are not always the same question.
The refrigerator doesn’t care that you used every available dollar at closing.
Neither does the air conditioner.
They tend to introduce themselves shortly after you’ve spent all your money.
Buyers Can Negotiate More Than Money
One of the healthier changes in a more balanced market is that negotiations can once again involve the house itself.
Inspection items. Repairs. Closing dates. Possession. Appliances. Seller-paid expenses. Financing concessions.
During the most competitive years, buyers sometimes accepted conditions they ordinarily wouldn’t have considered because they were afraid another buyer was standing behind them.
Today, in many transactions, buyers have more ability to say:
“Before I spend hundreds of thousands of dollars, I’d like someone to take a closer look at that foundation.”
Seems reasonable.
It always was.
Think Nationally…Decide Locally
This is also the kind of market where a skilled real estate agent can make a real difference.
When buyers were competing against a dozen offers and homes were selling almost immediately, there often wasn’t much room for strategy. Today’s market can be more nuanced.
A good agent isn’t simply finding homes that appear in an online search. They’re helping a buyer understand which homes may represent an opportunity, how long they’ve been on the market, whether the asking price makes sense, what comparable properties are doing and—perhaps most importantly—where there may be room to negotiate.
And negotiation isn’t just about price.
An experienced agent may help identify opportunities involving repairs, seller concessions, closing dates, appliances, inspection issues or other terms that can make a meaningful difference to the buyer.
The mortgage professional and real estate agent can also work together on another important piece of the puzzle: how to use a seller concession most effectively.
Would the buyer benefit more from a price reduction? Closing-cost assistance? Preserving cash after closing? Or, depending on the financing, using some of that concession toward the interest rate?
There isn’t one answer that works for every buyer.
That’s precisely the point.
In a market with more choices and more room to negotiate, experience matters.
The internet can show you which homes are for sale.
A good real estate agent can help you figure out which one to buy—and how to buy it well.
But Don’t Confuse Leverage With a Buyer’s Market Everywhere
This is where national housing headlines can become misleading.
There isn’t one housing market.
A home that’s been sitting for 75 days is a very different negotiating opportunity from a well-priced home that came on the market yesterday.
A neighborhood with six similar listings is different from one where nothing has been available for three months.
Even within the same city, conditions can change dramatically by neighborhood, price range and property type.
That’s why I’d be careful with headlines declaring that either buyers or sellers are “in control.”
The balance of power may now be determined one house at a time.
And frankly, that’s probably healthier.
Patience Doesn’t Mean Waiting Forever
There’s an important distinction here.
Being patient doesn’t mean sitting on the sidelines waiting for mortgage rates, home prices and economic conditions to line up perfectly.
They probably never will.
Patience means being willing to look at several homes instead of falling in love with the first one.
It means understanding your financing before negotiating.
It means knowing which concessions actually improve your financial position.
And sometimes it means having the confidence to walk away.
That’s real leverage.
The ability to say no may be one of the most valuable advantages a buyer can have.
Steve’s Perspective
After more than thirty years in mortgage banking, I’ve watched the pendulum swing between buyers and sellers many times.
I’ve seen markets where buyers could negotiate almost everything.
I’ve seen markets where simply getting the seller to accept your offer felt like a victory.
Neither lasts forever.
What I like about today’s environment is that in many markets we’re beginning to see something closer to a negotiation again.
That doesn’t mean buyers should expect a bargain on every house. And it doesn’t mean sellers have lost their leverage.
It means both sides may once again have enough room to structure a transaction that actually works.
For buyers, that’s an opportunity worth recognizing.
Don’t confuse patience with indecision.
Use the time.
Compare the homes. Understand the numbers. Ask questions. Work with professionals who understand the local market. Negotiate intelligently.
And when you find the right combination of home, price and financing, you’ll know why you’re saying yes.
House Money Rule #9
A buyer’s greatest negotiating advantage isn’t getting the seller to say yes.
Sources
Today’s issue draws on current housing data and analysis from the Texas Real Estate Research Center and Realtor.com Research.
Thanks for reading House Money.
My goal is to cut through the headlines and help homebuyers, homeowners and the professionals who serve them better understand the housing and mortgage decisions in front of them.
Steve Builta Mortgage Expert | NMLS #211809
512-750-3731 sbuilta@loandepot.com www.SteveBuilta.com
Serving Texas & Oklahoma.