Mortgage rates have recently ticked down, with the average 30-year fixed rate hovering around 6.81%—a modest but meaningful relief for today’s buyers. After months of hovering near 7%, this dip is giving serious buyers a much-needed opening to lock in a better deal.

But here’s the catch—and the opportunity:
If interest rates continue to drop, more buyers will flood back into the market. That means more competition, fewer choices, and higher home prices.

Here’s what could happen next:

• Pent-up demand: Many would-be buyers have been sitting on the sidelines waiting for rates to fall. When they do, the wave of demand will likely push prices up quickly—especially in desirable markets like Sarasota.
• Sellers regain leverage: Right now, buyers have negotiating power. But once rates drop, sellers will likely hold firmer on price and concessions.
• Less inventory, more bidding wars: Today’s slower market means more time to shop and negotiate. That window won’t last once rates move downward and the market re-heats.

Bottom line: Waiting for “the perfect rate” could cost you more in the long run—through price increases and reduced negotiating power. Today’s slightly lower rates, combined with a more balanced market, create a rare moment where buyers hold the advantage.

Let’s talk about how we can make this market work in your favor—before it shifts again.