If you’ve been watching the real estate market lately, you may have heard some version of this:

“Nobody is buying right now.”

But that’s not really the whole story.

Homes are still selling. Buyers are still buying. Sellers are still moving. What has changed is the balance of the market, and that change is creating something we haven’t seen nearly as much of in recent years:

Negotiating room.

Buyers Have More Choices

For several years, buyers became accustomed to hearing about low inventory, multiple offers and homes disappearing almost as quickly as they hit the market.

Today, the picture looks different.

According to the National Association of REALTORS®, there were 1.62 million existing homes for sale nationally in August, up 5.9% from a year earlier. That represents about a 4.9-month supply, the highest level in more than a decade.

More inventory means buyers may have the luxury of doing something that wasn’t always possible during the frenzy of the last few years:

Taking a minute.

They can compare homes, consider the numbers and, depending on the property and local market conditions, potentially negotiate on price, closing costs, repairs or other terms.

NAR Chief Economist Lawrence Yun recently noted that the increased supply is giving buyers better opportunities to negotiate.

That’s a pretty significant shift.

Yes, Mortgage Rates Are Still Part of the Conversation

We can’t talk about today’s housing market without talking about interest rates.

Freddie Mac reported the average 30-year fixed mortgage rate at 6.95% for the week ending September 17.

That’s certainly higher than buyers became accustomed to during the ultra-low-rate years, and affordability remains an important consideration.

But your interest rate isn’t the only number involved in buying a home.

The purchase price, seller concessions, closing costs, insurance, taxes and the terms of the contract all contribute to the bigger financial picture.

A buyer who has more negotiating power may be able to structure a purchase differently than a buyer competing against five or ten other offers.

That’s why I encourage buyers not to look at one number and automatically decide whether it’s a good or bad time for them to buy.

And Sellers? Strategy Matters More Than Ever.

This changing market doesn’t mean sellers should panic.

National home prices haven’t collapsed. In fact, NAR reported that the median existing-home sales price in August was $429,100, up 1.6% from a year earlier.

Here in the South, the median existing-home price was $366,500, up 0.7% year over year.

But buyers have choices now.

And when buyers have choices, they notice the difference between a home that is priced appropriately and one that’s testing the market.

The strategy of:

“Let’s start high. We can always come down later.” can be expensive.

The first days a home is on the market are valuable. If buyers believe a home is overpriced, they may simply move on to the next option rather than making an offer.

In today’s market, pricing isn’t just about what your neighbor sold for six months ago. It’s about your competition today.

Fall Could Be Interesting for Buyers

There’s another wrinkle worth watching.

Realtor.com identified the week of September 27 through October 3 as its national “Best Time to Buy” for 2026, based on the historical combination of inventory, pricing, competition and market pace.

That doesn’t mean everyone should rush out and buy a house next week. Real estate is local, and everyone’s financial situation is different.

But it does reinforce what we’re seeing in the broader market:

Buyers may have opportunities right now that they haven’t had in quite some time.

So, Is It a Buyer’s Market or a Seller’s Market?

I think there’s a better way to describe it.

It’s a negotiating market.

Buyers need to understand where they have leverage and where they don’t.

Sellers need to understand their competition and price accordingly.

And both sides need good information before making decisions.

Because real estate headlines tell us what’s happening across the country.

The numbers in Acadiana tell us what’s happening at home.

If you’re thinking about buying or selling in Lafayette, Youngsville, Broussard or the surrounding Acadiana area, let’s look at the numbers for your situation.

The market hasn’t stopped moving.

The conversation has simply changed.

Sources

National Association of REALTORS®, Existing-Home Sales Report, September 10, 2026.

Freddie Mac, Primary Mortgage Market Survey, September 17, 2026.

Realtor.com Economic Research, The Best Time to Buy a Home Is the Week of Sept. 27–Oct. 3, September 2026.

Market statistics and mortgage rates referenced in this article are national or regional figures and may not reflect current conditions in Acadiana. Real estate conditions vary by location, property type and price point. Mortgage rates also vary by borrower and lender. This article is for general informational purposes and is not financial or lending advice.