Spring Market Update: It’s Weird Out Here.
It’s the question everyone asks me—and if I’m being honest, sometimes it makes me want to bang my head on the nearest wall:
“So… how’s the market?”
Not because I don’t love talking real estate (I do). But because there’s no one-size-fits-all answer. Every buyer, seller, and situation is different. There’s no advice I can give that’s guaranteed to work for everyone, every time, just because the market is trending one way or another.
Real estate—at least the way I do it—is never cookie-cutter. It’s strategic. It’s tailored. It’s about the who, what, where, when, and why behind every move.
But back to the question—how is the market?
Well… it’s kind of weird right now.
Normally, spring is buzzing. My list of active buyer clients is typically 15 to 20 deep—people actively looking to buy within the next 30 to 90 days. But this year? My buyer list is looking eerily short. And I’m not the only one. Other top agents I trust and collaborate with are saying the same thing: the buyers just aren’t showing up like they usually do.
In fact, I currently have more sellers than buyers—which, on paper, isn’t a bad thing. Most agents dream of a listing-heavy business. But I actually love working with buyers, too. And what’s keeping me up at night is the thought that… maybe there just aren’t as many serious buyers out there right now as we usually see in the spring. The latest data from the Iowa City Area Association of Realtors show that April’s months of supply of inventory put the market at 5.2 and trending upward. A “balanced market” (neutral, not favoring buyers or sellers) is 4-6 months of inventory. I always take data like this with a grain of salt, though, because it’s always behind and never in real time given the 30-60 day cycle of most real estate transations.
So what gives? Why might buyers be “in the wind” this spring?
👉 Economic uncertainty and whispers of recession
👉 Political unease for folks who don’t feel aligned with the current direction
👉 Home prices that feel out of reach
👉 Interest rates that seem high compared to pandemic-era low rates
👉 General financial pressure—higher costs across the board
👉 A disconnect between what buyers want and what sellers expect
It’s hard to spot a trend when you’re standing in the middle of it, but this spring? It doesn’t feel like the typical spring frenzy. The market is shifting. Slowly, subtly—but definitely shifting. Again, back to my opening point–there is no one-size-fits-all. SOMETIMES buyers still find themselves in competing offers, but SOMETIMES nice homes that are priced reasonably according to comparable sales are inexplicably sitting…and sitting with no offers. Across the board, however, buyer expectations are high. Buyers see that prices feel high, have been high and continue to be high, and they figure if they’re going to pay a premium, they want what they want. (So, sellers, take your old carpet, outdated paint colors and shabby landscaping and go fly a kite).
So what does this mean for you?
- If you’re a buyer, this could be your chance to make a move without quite as much competition breathing down your neck. This could be your chance to work the price down, ask for concessions, or have your subject to sale offer actually considered.
- If you’re a seller, it’s time to get serious about strategy—pricing, prep, and presentation matter more than ever. If you DO get an offer, you better not be too high and mighty if its not exactly what you had in mind. Having an offer to negotiate is a far better position to be in than no offer at all.
- If you’re just watching and waiting, stay close. This market may look very different by mid-summer.
As always, I’m here to help you make sense of it all—and make the smartest move for you, no matter what the market is doing.
