What if the best time to buy your next home isn't when mortgage rates are lowest, but when your negotiating power is greatest?
As we approach the final weeks of 2026, an unusual alignment of market conditions is creating opportunities for prospective homebuyers, particularly those considering new construction.
A softer resale environment, elevated new construction inventory, slower sales velocity, and motivated developers are giving qualified buyers negotiating leverage that may not persist when the next housing cycle gathers momentum.
And here's the opportunity that deserves more attention:
In some cases, developers are offering financial incentives that exceed what competing resale properties can provide.
For buyers contemplating a move into a larger home, a luxury condominium, or a resort residence, this could be an opportune moment to buy up in a down market.
THE MARKET SIGNAL: CONDOMINIUM BUYERS HAVE MORE CHOICES
The Northwest Multiple Listing Service's October 2026 market update reinforces a changing dynamic across the region.
Condominium buyers are navigating a market with greater selection and more negotiating opportunities than during the pandemic-era housing frenzy.
The November 6 market coverage from Seattle Agent Magazine highlights the latest NWMLS findings, providing another important indicator that today's housing conditions are markedly different from those of several years ago.
For sellers, that means pricing and presentation matter more than ever.
For buyers, it means the ability to compare properties, evaluate concessions, and negotiate favorable terms has returned.
And for buyers considering new construction, the opportunity may be even more compelling.
The market isn't necessarily offering a discount on every home. It offers a chance to negotiate the right home under more favorable conditions.
WHY DEVELOPERS MAY BE MORE MOTIVATED THAN HOMEOWNERS
Consider the economics.
An existing homeowner may have substantial equity, a historically low mortgage rate, and the flexibility to wait for another market cycle. A developer with completed inventory faces a different financial equation. Construction financing, insurance, property taxes, maintenance, and capital tied up in unsold homes can create substantial carrying costs.
Developers may also be working toward lender milestones, year-end financial objectives, or the next phase of construction. As a result, some are willing to offer significant concessions to secure qualified buyers and close transactions. In short, the value of their returned equity may be more important than the original profit projected on a community.
National research underscores this trend. Recent builder surveys have shown widespread use of purchase incentives, including price reductions, mortgage-rate buydowns, and closing-cost assistance.
The developer's cost of waiting can become the buyer's negotiating advantage.
A CASE STUDY: THE RESIDENCES AT SUNCADIA SOCIAL
One of the most compelling examples in our own new-development portfolio is unfolding at The Residences at Suncadia Social, where NW Roots Construction is offering substantial year-end incentives on newly constructed resort homes.
For qualified buyers who can complete their purchases by December 31, 2026, the developer is offering packages valued at:
UP TO $100,000 IN CREDITS
For detached Mountain Bungalows
UP TO $40,000 IN CREDITS
For newly constructed Rowhomes
Rather than requiring buyers to accept a single predetermined incentive, the program offers flexibility to allocate available credits among eligible benefits, including:
• Mortgage interest-rate buydowns, with advertised financing as low as 3.99%.
• Curated interior furniture packages to help furnish a new mountain residence.
• Other eligible closing-cost credits.
The result is an opportunity to customize the financial benefits around the buyer's priorities.
Some purchasers may prefer to reduce monthly carrying costs. Others may value furnishing their new residence or minimizing cash required at closing.
The opportunity isn't simply to buy a new home. It's to negotiate a more complete ownership solution.
WAIT, THERE’S MORE?
The Residences at Suncadia Social also offer an additional dimension of ownership: income to offset the cost of personal enjoyment.
When owners aren't using their homes, eligible residences can participate in resort-supported short-term rental programs, with preferred revenue arrangements and management services available through Suncadia Resort.
This creates the potential to offset a portion of ownership expenses while maintaining access to a mountain retreat.
Imagine spending Thanksgiving, Christmas, or the winter holidays at your own residence in Suncadia, then having the opportunity to generate rental income during eligible periods when the property is otherwise unoccupied.
Combined with the village environment at Suncadia Social, resort amenities, outdoor recreation, and eligible membership opportunities, the proposition extends beyond a conventional second-home purchase.
Rental participation, eligibility, management arrangements, revenue, and expenses are subject to applicable program terms. Rental income is not guaranteed.
FOCUS ON THE STRIKE PRICE—NOT JUST THE MORTGAGE RATE
In a recent Market Perspectives podcast with Carese Busby of Movement Mortgage, we discussed a persistent misconception in today's housing market.
Many prospective buyers are waiting for mortgage rates to decline before making their next move.
But what happens when rates fall?
More buyers may enter the market, competition can intensify, and sellers may become less inclined to negotiate.
As Carese observed during our conversation:
“The most important thing is the price you're paying for that property.”
I offered a related observation:
“You can always refi, but you can't rebuy.”
The principle is straightforward.
A buyer may have opportunities to change the financing later, but the original acquisition price is fixed.
That doesn't mean mortgage rates are irrelevant. Financing costs, affordability, and monthly cash flow remain essential.
It means buyers should consider the entire transaction rather than allowing today's mortgage rate to dominate the decision.
A lower purchase price, a substantial developer credit, and an attractive financing package can collectively create a compelling ownership opportunity.
THE REAL ADVANTAGE: BUYING UP IN A DOWN MARKET
Consider a hypothetical homeowner selling a $1.5 million residence to purchase a $2.5 million luxury property.
In a softer market, suppose the existing residence sells for 5% below its earlier market value, while the desired luxury home can be purchased for 10% less than its previously asked price. New construction inventory may even be more compelling.
The existing home sells for $1,425,000.
The new home is acquired for $2,250,000.
The difference between the two transactions is $825,000, compared with the original $1 million spread.
That's a $175,000 improvement in the cost of trading up.
Now imagine the buyer also negotiates a meaningful developer incentive on the new residence.
The combined benefits could be considerable.
Of course, actual results depend on the properties, financing, taxes, transaction costs, and the buyer's circumstances.
But the underlying lesson is important:
Don't become so focused on what you're giving up on in the sale of your existing home that you overlook what you can gain on your next purchase (especially if you are not financing dependent).
Sometimes the best financial opportunity isn't found in the price of the home you're selling.
It's found in the spread between the home you're leaving and the lifestyle you're acquiring.
THE REPLACEMENT-COST QUESTION
There's another factor worth considering, particularly for luxury condominium buyers.
Across portions of the Puget Sound region market, construction costs have risen while certain completed condominium properties have experienced price corrections.
That can create a gap between today's acquisition price and the cost of building a comparable residence in the future.
Developers generally need sufficient selling prices to justify launching new projects.
When those economics don't work, construction pipelines can contract.
If buyer demand subsequently strengthens, today's completed inventory may become more difficult to replace at comparable prices.
This is one reason qualified buyers should closely examine existing new-construction opportunities rather than automatically waiting for the next development cycle.
Replacement cost does not guarantee appreciation, but it provides an important perspective on relative value.
MARKET CYCLES: THE GRAYSTONE CONDOMINIUMS
Another example of buyers timing the market is Graystone. This 271-unit luxury high-rise condominium was initially completed in 2023, which is among the last deliveries in the past housing cycle, and now presents one of the greatest values available.
According to Dehlan Gwo, a Global Real Estate Advisor with RSIR, peak-to-trough pricing has corrected more than 25%, sharpening the pencil for would-be buyers with average asking prices now around $950 per square foot. Retail on replacement housing today would command nearly twice that price, as demonstrated by Park Row, currently in downtown Bellevue (the only active new construction development that is penciling).
For buyers considering their future retirement home, an investment, or an opportunity for their children to take advantage of this generational opportunity to achieve greater value, the time is now. This could be a similar situation to the Global Financial Crisis and Great Recession, which witnessed a dearth of new supply between 2007 and 2012 before new groundbreakings were part of the new cycle.
WHY YEAR-END 2026 MATTERS
As developers approach December 31, their motivations may become particularly relevant.
A completed home represents capital that cannot be redeployed until a transaction closes.
For buyers prepared to act, the final weeks of the year may present opportunities to negotiate incentives, financing assistance, and other concessions that are not necessarily available in a more competitive market.
The Residences at Suncadia Social provide a timely example.NW Roots Construction's year-end program is designed to identify qualified buyers and complete eligible closings by December 31, 2026.
The incentives are substantial. The deadline is real. And the opportunity is worth examining.
A MESSAGE TO RSIR NATION: LISTEN. LEARN. LEAD.
For our Global Real Estate Advisors, this is an opportunity to elevate the conversation with clients.
Rather than focusing exclusively on whether prices or mortgage rates will move next, consider asking a more important question:
What could your client own today that may become less attainable when market conditions change?
Explore the total economics of the transaction.
Compare new construction with resale alternatives.
Evaluate developer incentives, purchase-price flexibility, financing structures, and the cost of waiting.
For homeowners considering a move up, calculate the difference between what they're selling and what they're buying—not simply the price movement of either property in isolation.
And for clients considering a second home, explore the lifestyle benefits alongside available rental-management opportunities and carrying costs.
The next housing cycle will eventually arrive.
The opportunity is to help our clients make informed decisions before the market becomes more competitive.
LISTEN, LEARN & LEAN IN
Watch my recent Market Perspectives conversation with Carese Busby of Movement Mortgage for additional perspectives on mortgage rates, generational wealth, condominium opportunities, and the next real estate cycle.
EXPLORE THE YEAR-END OPPORTUNITY
Contact our RSIR New Developments team at dean.jones@rsir.com to learn more about The Residences at Suncadia Social and the available year-end incentive packages.
THE BOTTOM LINE
Don't wait for tomorrow's lower mortgage rate if today's negotiating opportunity could deliver a better long-term acquisition.
The most important question may not be whether the market has reached its bottom—it may be whether you've identified the property, price, and incentives that make ownership compelling today.
Buy up in a down market. Negotiate the strike price. Own the opportunity.
NEWS YOU CAN USE | NOVEMBER 2026
By Dean Jones, President & CEO, Realogics Sotheby’s International Realty
Dean Jones
President & CEO
Realogics Sotheby's International Realty
Founder, Futurecast Forum
Market observations are not guarantees of future performance. Incentive programs are subject to availability, qualification, lender approval, and applicable terms. The advertised 3.99% financing program requires verification of loan terms, APR, duration, and eligibility. Developer incentives may not be combined beyond program limits. Buyers should consult appropriate mortgage, tax, legal, and financial professionals.
