If you’ve been sitting on the sidelines of the housing market, now may be your moment.

Right now across many parts of Canada, we’re seeing something that hasn’t been common over the past few years: More homes on the market and less competition among buyers. For home shoppers who are prepared, this creates a window of opportunity that deserves a closer look.

At Homewise, we speak to buyers daily who are wondering if it’s the right time to act. While timing the market perfectly is impossible, market conditions like these can offer tangible advantages.

More choice, less pressure

When inventory is high and buyer demand is low, you gain something incredibly valuable: Time and choice. In recent years, buyers were often forced to make quick decisions on homes with multiple offers and aggressive bidding wars. Now, with more listings available and fewer buyers competing, you have the chance to explore neighbourhoods, compare options and negotiate from a stronger position.

Room to negotiate

In a balanced or buyer-friendly market, sellers are typically more open to negotiation. That might mean a better price, more flexible closing dates or even repairs or upgrades included as part of the deal. For homes that have been sitting on the market for a few weeks, sellers may be especially motivated to make a deal. That’s a significant change from the frantic pace we’ve seen in past markets.

Less competition, more value

Bidding wars tend to drive up prices and cause emotional decision-making. With less buyer competition, many properties are now selling closer to their list price. That means more accurate home valuations and less risk of overpaying. If you’re a first-time buyer or someone upgrading to a larger home, this can translate into real savings.

The power of preparation

This type of market rewards buyers who are prepared. Getting a mortgage pre-approval gives you a clear sense of your budget and helps you act quickly when the right home comes along. It also shows sellers that you’re serious.

Looking beyond the headlines

Yes, there are still challenges in the market. Interest rates are higher than they were a couple of years ago, and inflation continues to affect affordability. But when inventory increases and demand cools, it shifts the power dynamic.

In simple terms, you’re not just buying a home – you’re buying at a moment where there’s more room to make a smart, well-timed decision. Working with an unbiased mortgage advisor like ours at Homewise is a good way to get an idea of affordability, options and determine if the timing is right for you.

Final thought

Every market cycle brings opportunity, and for those who are ready, this one might be it. Use the extra inventory and reduced competition to your advantage. Take your time, do your research and lean on experts who can help you navigate the process.

This could be the calm in the storm you’ve been waiting for.