According to the same report, new home listings increased to their highest level since July 2022. A buyer’s market may be developing, as the typical home that went under contract in April was on the market for 40 days, the slowest April since 2019. The typical home also sold for 1% less than the asking price.
The market remains challenging as many buyers hope for lower interest rates in the second half of the year. But Kenerson said there are opportunities available for those looking to purchase a home right now.
“There is still affordability in the market,” he said. “We don’t think there’s affordability, but there really is. While we have higher rates, it’s still a buyer’s best friend because sellers are paying concessions.”
For Kenerson, from the very beginning of his brokerage, it has been about helping consumers realize their dream of homeownership.
“At the very beginning of my career, it was helping a lot of consumers get in a position where they could buy,” he said. “So, we named our company: It was Lending Hand Mortgage, lending a hand every step of the way. We take it to heart. It’s what keeps us in this business. We stayed in it because you’re helping make a difference in someone’s life.