Will My House Still Sell in Today's Market?

By
Real Estate Agent with HomeSmart 0561240

Will My House Still Sell in Today's Market?

 

If recent headlines about the housing market cooling and buyer demand moderating have you worried you've missed your chance to sell, here's what you need to know. Buyer demand hasn't disappeared, its just eased from the peak intensity we saw over the past two years.

Buyer Demand Then and Now

During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):

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The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today’s demand stands, let’s look at the July data for the past six years (see graph below):

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This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels and those pre-pandemic years were great years for the housing market. That goes to show theres still demand if you sell your house today.

What That Means for You When You Sell

The key to selling in a changing market is understanding where the housing market is now. Its not the same market we had last year or even earlier this year, but that doesn't mean the opportunity to sell has passed.

While things have cooled a bit, its still a sellers market. If you work with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.

Bottom Line

Buyer demand hasn't disappeared, its just moderated this year. If you're ready to sell your house today, lets connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.

 

 

 

Posted by

e signature for Shayne Stone

“YOUR Rock-Solid Choice Realtor for Making Home Sellers a Profit & Home Buyers Equity”

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Comments (3)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for sharing the information. Wishing you continued success.  Have a wonderful day and sell a house.  bill

Sep 30, 2022 06:25 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

As in life, balance does return.

Sep 30, 2022 06:35 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.   Thanks for sharing and enjoy your week!

Oct 03, 2022 07:36 AM