Fall is here in Des Moines, and with it comes one of the most misunderstood seasons in real estate. A lot of people assume the market shuts down after summer. It doesn't. It just changes, and if you understand how, there is real opportunity on both sides.
If you're buying: fall means less competition. The spring frenzy is behind us, and many buyers have stepped back to wait for the new year. That leaves more room for you. Sellers listing right now are serious about moving, which means more room for negotiation on price, closing costs, and timelines. But don't mistake a calmer market for a slow one. The best homes still move, so get your pre-approval in order and be ready to act when the right one shows up.
Let's talk rates, because I know that's on everyone's mind. Rates are sitting around 7 to 7.5% right now. That number scares some buyers off, but here's what most people miss. Builders are offering buydowns with options in the 5%s, and some new builds come with tax abatements that bring your overall cost down even more. New construction deserves a real look right now.
And here's my honest advice: buy for the payment that works for you today, not the rate you hope to refinance into later. A refinance into a lower rate is never guaranteed. If the monthly payment fits your budget now, you're in good shape no matter what rates do next.
If you're selling: the buyers out there right now are serious. Nobody casually browses homes in October. Pricing correctly from day one matters more than ever, because overpricing in a smaller buyer pool means your home sits while well priced homes get the attention. Presentation matters too. Warm lighting, clean lines, and a few seasonal touches go a long way when days get shorter.
Here's the bottom line. Fall rewards people who are prepared and decisive, whether you're buying or selling. If you've been waiting for the right moment, this might be it.