If you have been following the real estate market lately, you have probably heard a lot of different opinions.

One person says, “Wait. Prices are going to come down.”

Another says, “Buy now before rates or prices change again.”

A homeowner may wonder whether this is still a good time to sell.

A buyer may be watching homes sit on the market and wondering how aggressively they should negotiate.

It can all become confusing very quickly.

The truth is, real estate markets shift.

Sometimes sellers have most of the negotiating power. Sometimes buyers have more choices. And sometimes we find ourselves somewhere in the middle, where the answer depends heavily on the neighborhood, price range, property and individual circumstances.

So when I talk about “winning” in a shifting market, I do not mean predicting exactly what the market will do next.

Nobody can guarantee that.

To me, winning means something much simpler:

Understanding the market you are in, knowing your own goals, and making decisions based on good information rather than fear.

Whether you are buying or selling a home in Portland, Beaverton, Bethany, Hillsboro or another Oregon community, here are some things worth keeping in mind.

First, What Does a Shifting Market Really Mean?

A shifting market does not automatically mean that home prices are crashing.

It also does not automatically mean that buyers suddenly control every transaction.

A market can shift in many ways.

We may start seeing:

• More homes available for buyers
• Properties taking longer to sell
• Fewer multiple-offer situations
• Sellers making more price adjustments
• Buyers becoming more selective
• More negotiation around terms
• Different incentives from builders
• Changes in mortgage rates and affordability

And even when those things are happening across a larger area, every neighborhood can behave differently.

A well-priced home in a popular neighborhood may still attract strong interest.

Another home just a few miles away may sit longer because buyers have several similar options.

That is why I always encourage people to look beyond national headlines.

The headline may tell you what is happening broadly.

Local market information tells you what may be happening around the home you want to buy or sell.

For Buyers: More Choices Can Be an Opportunity

When the market becomes less competitive, buyers may finally feel like they can slow down.

That can be a good thing.

In a very fast seller's market, buyers may feel pressured to make decisions quickly because another offer could arrive at any moment.

In a market with more inventory, buyers may have time to compare properties more carefully.

You may be able to look at several homes rather than feeling that you have to make an offer on the first acceptable one.

But having more choices does not mean you should stop being prepared.

Strong homes can still receive strong interest.

The goal should be to be ready when the right property appears.

Know Your Numbers Before You Fall in Love With the House

One of the most important things a buyer can do in any market is understand the financial side before making an offer.

That means talking with an appropriate lender and understanding things such as:

• Your comfortable purchase price
• Estimated monthly payment
• Available down payment
• Estimated closing costs
• How different interest rates could affect your payment
• Your financing options

Your lender is the appropriate professional to provide advice about loan programs, qualification and financing.

Your real estate agent can then help you connect those numbers with what is happening in the housing market.

This is important because the maximum amount you may qualify to borrow is not necessarily the amount you will personally feel comfortable paying every month.

I would rather see a buyer understand that before getting emotionally attached to a house.

Don't Shop Based Only on the List Price

Buyers sometimes tell me:

“The house is listed at $700,000, so that must be what it is worth.”

Not necessarily.

The asking price is the seller's offering price.

Market value can be influenced by comparable sales, property condition, location, competition and buyer demand.

Some homes are priced close to where the market may support them.

Some may be positioned aggressively.

Others may eventually require a price adjustment.

That is why I like to look at the property in context.

What have similar homes sold for?

How long has this property been on the market?

Has the price already changed?

What else can a buyer purchase for a similar amount?

Are there comparable new-construction options?

How does the condition compare?

Those questions can help buyers make a more informed decision about their offer.

A Lower Offer Is Not Automatically a Better Strategy

When buyers hear that the market is shifting, one common reaction is:

“Great. Let's offer much less.”

Sometimes there may be room for negotiation.

But there is no universal discount that applies to every home.

A seller who has already priced the property realistically may not have the same flexibility as a seller whose home has been sitting without much activity.

A recently listed home may also be in a very different negotiating position from a property that has been available for several months.

Instead of deciding in advance that every home should receive a low offer, look at the specific property.

Ask:

What does the data tell us?

How much competition appears to exist?

What is important to the seller?

What terms matter to us?

Price is only part of an offer.

The Best Offer Is Not Always the Highest Offer

This applies to both buyers and sellers.

A residential real estate offer can contain many terms in addition to purchase price.

Depending on the transaction, these may involve financing, earnest money, closing date, possession, inspections, appraisal provisions, contingencies, seller-paid costs and other terms.

For example, a seller might value a particular closing timeline.

A buyer may need certain protections because of financing or property-related concerns.

Every offer should be evaluated as a whole.

This is especially important in Oregon because the current OREF residential sale agreement addresses different contingencies separately, including financing, appraisal, inspection and suitability provisions.

Those terms should be considered carefully based on the individual transaction rather than treated as automatic negotiating tools.

Buyers: Don't Give Up Important Protections Just to “Win”

This is something I feel strongly about.

In a competitive market, buyers sometimes hear:

“You need to waive everything if you want the house.”

That is not advice I believe should be given casually.

Contingencies and due-diligence provisions can have significant contractual consequences.

For example, Oregon's 2026 OREF forms now include a separate appraisal contingency. The inspection contingency also has its own purpose, and OREF has clarified that buyers may choose inspections during the inspection period under the applicable contract terms.

There is also a separate suitability contingency that can address certain buyer-specific concerns outside a standard property inspection.

Which protections should be included in an offer depends on the transaction and the buyer's circumstances.

There may be competitive situations where a buyer decides to modify certain terms after understanding the potential consequences.

But that should be an informed decision, not something done simply because someone says, “That's how you win.”

A house is important.

So is protecting yourself while buying it.

Sellers: A Shifting Market Requires a Different Mindset

Now let's look at the seller's side.

In a very strong seller's market, homeowners can sometimes put a property on the market and receive immediate attention.

When conditions shift, buyers may have more choices.

That means presentation, pricing and strategy become even more important.

The seller who understands this early may be in a better position than the seller who continues to expect last year's market.

One of the hardest conversations in real estate can be:

“My neighbor sold for this much. Why can't I?”

There may be a perfectly good reason.

Maybe that home sold six months earlier.

Maybe inventory was lower.

Maybe interest rates were different.

Maybe the property was remodeled.

Maybe it had a larger lot.

Maybe there were several buyers competing for it.

The previous sale is useful information.

But today's buyer is shopping in today's market.

Price for the Market You Have, Not the Market You Remember

When sellers prepare to list, there is often an emotional number in mind.

Perhaps it comes from what a neighbor received.

Perhaps it comes from an online estimate.

Maybe it is the amount the seller needs for the next home.

Those are understandable considerations.

But buyers do not know what the seller needs.

They compare the property with other available choices.

If buyers can purchase a similar home nearby for considerably less, they are going to notice.

Pricing does not mean simply choosing the lowest number.

It means looking at the home's condition, recent comparable sales, pending activity where available, active competition and current buyer behavior.

In a shifting market, correct positioning becomes especially important.

Don't Chase the Market Down

Imagine a seller lists a home noticeably above competing properties.

Buyers tour it but decide it is too expensive.

After several weeks, the seller lowers the price.

But during that time, another competing home also lowers its price.

Now the seller lowers again.

This can become frustrating.

Sometimes sellers end up following the market instead of positioning the home appropriately from the beginning.

That does not mean every home needs a price reduction.

It means pricing should be reviewed objectively throughout the listing period.

If the home is receiving very little activity, the question should be:

What is the market telling us?

It could be price.

It could be presentation.

It could be condition.

It could be competition.

Sometimes it is a combination.

Presentation Matters More When Buyers Have Choices

When buyers have only a few homes to choose from, they may overlook certain things.

When they have ten comparable homes available, they can become more selective.

That makes preparation important.

Simple improvements can sometimes change how a home feels:

• Decluttering
• Cleaning
• Touch-up paint
• Better lighting
• Landscaping
• Furniture placement
• Addressing obvious maintenance items

Not every property needs a major remodel before being sold.

And sellers should not assume every dollar spent on an improvement will automatically come back through a higher sale price.

The right preparation strategy depends on the property and market.

New Construction May Be Part of Your Competition

This is something resale sellers sometimes miss.

Your competition may not be limited to the house for sale down the street.

Buyers may also be considering new construction.

Builders may periodically offer financing programs, incentives, upgrades or closing-cost assistance, subject to their specific terms.

Those offers can affect how buyers look at resale properties.

For example, a buyer may compare a ten-year-old home at one price with a newly constructed home at a similar monthly cost.

That does not mean the resale property cannot compete.

A resale home may offer a larger yard, established neighborhood, mature landscaping, finished improvements or a location the buyer prefers.

But sellers need to understand what buyers are comparing.

Sellers Should Look at the Entire Offer Too

A seller receives an offer and sees the price first.

That is normal.

But before responding, look at everything.

What type of financing is involved?

What are the proposed timelines?

What contingencies are included?

Is the buyer requesting seller-paid costs?

What is the proposed closing date?

Are there possession requests?

What other terms matter?

The offer that looks highest at first glance may not necessarily provide the terms the seller prefers.

Likewise, a lower offer should not automatically be dismissed before considering the complete proposal.

A real estate professional can help a seller review and understand the real estate terms within the scope of the licensee's role. Questions requiring legal, tax, lending or other specialized advice should be referred to the appropriate professional.

Flexibility Can Matter More Than Ever

In a shifting market, buyers and sellers sometimes become focused on “winning” every individual negotiation.

I don't think that is always productive.

If a transaction works well for both sides, that can be a very good result.

For example, perhaps the buyer cares most about a closing-cost contribution.

The seller may care more about the closing date.

Maybe the seller does not want to complete a particular repair but is willing to discuss another solution.

Maybe possession timing is important.

There can be many ways to structure a transaction, depending on the contract and what both parties agree to.

The goal should not necessarily be:

“How do I beat the other person?”

A better question is:

“Can we create terms that accomplish my client's priorities while still allowing the transaction to move forward?”

Don't Let Headlines Make the Decision for You

Real estate headlines are designed to get attention.

You may see:

“Home Prices Are Falling.”

Then the next week:

“Buyer Demand Is Increasing.”

Then:

“Rates Could Change.”

It can be exhausting.

More importantly, those headlines may have very little to do with the specific three-bedroom home you are considering in Beaverton.

Or the five-bedroom home you're preparing to sell in Bethany.

Real estate decisions should be based on more than one article or one national statistic.

Look at:

• Your local market
• Your price range
• Your property type
• Your financial situation
• Your personal timeline
• Your alternatives

The right decision for your friend or neighbor may not be the right decision for you.

Trying to Time the Perfect Market Can Be Difficult

People often ask:

“Should I wait six months?”

Sometimes waiting is absolutely appropriate.

Other times, a person's life plans matter more than trying to predict exactly where prices or mortgage rates will be in the future.

Maybe you need more space.

Maybe you're relocating.

Maybe you're downsizing.

Maybe you're buying your first home.

Maybe you're selling because you no longer need the property.

These are personal decisions.

Nobody can reliably guarantee exactly what a particular property will be worth six months from now or exactly where mortgage rates will be.

Instead of trying to find the perfect market, consider whether the move makes sense based on your current circumstances and realistic alternatives.

What Does “Winning” Actually Look Like?

For a first-time buyer, winning may mean purchasing a home they can comfortably afford without feeling pressured into terms they do not understand.

For another buyer, it may mean negotiating a property that has been sitting on the market.

For a seller, winning may mean getting the home sold within a timeline that allows the family to relocate smoothly.

For someone downsizing, it might mean making the transition with less stress.

For another seller, the priority may be maximizing their net proceeds while understanding the time and market conditions involved.

There is no single definition.

That is why your real estate strategy should begin with your goals—not with someone else's definition of success.

My Advice in a Shifting Market: Stay Informed, Not Afraid

Markets change.

That is normal.

A changing market does not necessarily mean buyers should stop buying.

It does not necessarily mean sellers should rush to sell.

And it certainly does not mean every property should be handled the same way.

The people who tend to feel most comfortable making real estate decisions are often the people who understand their options.

They know their numbers.

They understand the local competition.

They look at comparable properties.

They ask questions.

And they are willing to adjust their strategy when the information changes.

That is what I mean when I say:

You can still win in a shifting market.

Not because someone can promise you a certain price, interest rate or outcome.

But because good information can help you make a better-informed decision.

Thinking About Buying or Selling in the Portland Metro Area?

If you're considering a move in Portland, Bethany, Beaverton, Hillsboro, Tigard, Tualatin, Lake Oswego, North Plains, Cooper Mountain, Reeds Crossing, Southeast Portland, Salem, Woodburn or surrounding Oregon communities, I would be happy to help you understand what is happening in your local market.

We can look at your goals, current competition, recent comparable properties and the options available to you.

You do not have to make a decision during the first conversation.

Sometimes the most valuable first step is simply understanding where you stand.

Isha Budhiraja
Isha Budhiraja Realty Group

Helping Oregon buyers and sellers make informed real estate decisions through education, local knowledge and thoughtful strategy.

Frequently Asked Questions

Is a shifting market a buyer's market?

Not necessarily. A market can shift without becoming a true buyer's market. Conditions can also vary by neighborhood, property type and price range.

Should buyers automatically offer below asking price?

No. The appropriate offer depends on the individual property, comparable sales, competition, market activity and the buyer's objectives.

Should I wait for mortgage rates to come down before buying?

Future mortgage rates cannot be guaranteed. Buyers should discuss financing options, affordability and loan scenarios with an appropriately licensed lender and consider their personal circumstances.

Do buyers need an inspection?

Inspection decisions can have important contractual consequences. Buyers should understand the applicable contract terms, conduct appropriate due diligence and obtain professional advice when needed rather than relying on a blanket rule.

What happens if a home does not appraise for the purchase price?

The answer depends on the contract, financing and contingencies involved. Under the 2026 OREF residential sale agreement, appraisal and loan contingencies are addressed separately. Buyers and sellers should review the actual transaction terms with their real estate professional and seek appropriate legal or lending advice where needed.

Should sellers reduce their price if a home is not selling?

Not automatically. Sellers and their real estate professional should review showing activity, feedback, competing properties, condition, presentation and pricing before determining whether a strategy change may be appropriate.

Important Disclaimer

This article is provided for general educational and informational purposes only. It is not legal, tax, financial, lending, appraisal, inspection or other professional advice. Real estate laws, forms, financing programs and market conditions can change, and every transaction is different. Buyers and sellers should review their individual circumstances with appropriately qualified professionals. No particular price, savings, financing terms, timeline or real estate outcome is guaranteed.