According to a recent report by Realtor.com®, home prices continued to fall in October from the record high prices we saw over the summer. In addition, the number of homes on the market nationwide increased 33.5% year-over-year, according to our data.

Homes are also languishing on the market for an average of 51 days, six days longer than last year. This shift means sellers are more likely to price their homes competitively.

Simply put, it all adds up to a shift in power in real estate. A year ago, sellers called the shots while buyers launched legendary bidding wars, dropped contingencies and paid cash for their homes.

But now, the shoe is on the other foot, and according to a survey by Realtor.com, 92% of sellers are accepting terms (often related to home inspections, financing or appraisals) that are favorable to the buyer.

So if you're currently in the market to buy a home, here are the biggest silver linings to consider.

Fewer showings mean less confusion and a more sensible approach to home buying.

"In the past year, every home I've listed has had an offer over the listing price within an hour," recalls Ami DiPierro, a Realtor with Choice Residential Real Estate in Raleigh, N.C." It's very frustrating to see a home that matches your buyer, call the agent to find out when to start looking at it, only to learn they are about to accept an offer.

"You can now get in the door and actually look at the house without worrying about overlapping appointments and incoming offers," DiPierro adds.

When mortgage rates rise, it's never good news for buyers or sellers. But it's important to keep your head above water, especially when home prices are falling.

"Rising interest rates have two consequences for the real estate market," says Cam Dowski, founder of Chicago-based We Buy Homes." The first benefit is that they often lower housing prices, which is good for buyers. The second benefit is that they prevent some customers from entering the market, which benefits those who stay. The result is less competition for buyers, which further reduces the risk to buyers, expands their options and lowers property prices."

This time last year, desperate buyers were willing to forgo financial contingencies, inspections and more to snag their dream homes. Not anymore.

"We finally have the ability to negotiate on behalf of buyers rather than offering everything imaginable to sellers in hopes that their offer will be selected," said Fletch Newland, a Seattle-area Realtor with Re/Max.

"There's no more eliminating contingencies. No more paying more than $100,000 over asking price when the price is not below market value. No more having to decide whether to make an offer minutes after the maximum allowed 15-minute showing window, knowing that every hour they wait, the competition for the house increases," Newland added." Now, the power is in the hands of the buyers. The house is on hold and the sellers are in a hurry."

DePierro agrees." Inspection waivers and appraisal waivers are no longer considered necessary to accept an offer," she said. Instead, she says, "we're starting to see riders requiring professional cleaning prior to closing, seller payment of closing costs, or seller payment of warranties."

The number of days a home spends on the market directly affects its price, and the average number of days on the market has risen to 51, which is good intelligence for a buyer's bargaining power.

Mike Hardy, managing partner of national lender Churchill Mortgage, said many sellers get anxious if no one makes an offer after 30 days, causing them to make price reductions and concessions that will ultimately benefit buyers.

"The list of strategies and advantages available to buyers today," Hardy says, "is quite long and did not exist a few months ago." There's less competition from others, which brings the possibility of price reductions, anxious sellers willing to negotiate, you can lowball asking prices, and more."

Housing costs have soared, but to address the affordability issue, many homebuilders and sellers are offering mortgage rate reduction programs so buyers can buy a home now.

Some of the most popular purchase plans are the 2-1 purchase plan and the 3-2-1 purchase plan, in which the seller or home builder pays a certain amount of money up front for a low interest rate.

Then, over the next few years of repayment, that interest rate goes up until it reaches the original rate.

For example, your seller could buy down your 7% rate to 4% at the beginning of the payment period. Then, one year later, that rate rises to 5%, the next year it's 6%, and then 7%.

"Because a lot of people think the rate will be lower in two years, psychologically and financially it's a great way to get a house at a lower starting rate than the current rate," said Michael Isaacs, CEO of GO Mortgage.

Churchill Mortgage offers an "interest rate relief" program to help buyers and sellers overcome the stress together, Hardy said.