Questions About Selling Now

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

Should I Wait to Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, so are a ton of other people. And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. Assuming you will buy another home after you sell, you’ll have to deal with rising prices and multiple-offer scenarios on the flip side.

Are Buyers Still Out There?

While some people are holding off, there are still plenty of buyers active today. The ShowingTime Showing Index above is a measure of how frequently buyers are touring homes.

You can see demand has dipped some since the ‘unicorn’ years. That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. When you focus on just the “normal years” (blue bars), you can get an idea of how 2024 stacks up. Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

Can I Afford to Buy My Next Home?

Homeowners have gained record amounts of equity over the past few years that can make a big difference when you buy your next home. Depending on what you are looking for, you may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade.

A recent survey from Realtor.com found more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence. Contact us today to get ahead of the competition and learn how we can help you make your move.