What Sellers Should Know in Today’s Housing Market

If you’re considering selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the market’s peak frenzy over the past two years has cooled some. 

If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your home right for today’s market. Here’s why

It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers. But don’t forget – that’s compared to the severely overheated market we saw over the past two years. Serious buyers are still active in the market and are buying homes priced right.

If you’re aiming to sell your house, be sure you’re working with your agent to price it for today’s housing market. As buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. But it is still a sellers’ market.

If you’re ready to sell your house, seek the advice of a real estate professional to understand what’s happening with buyer demand and home prices in our local area as you get ready to enter the market. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today.