Will Your House Sell in Today's Market?
Will your house still sell in today's market? The short answer is, yes. Buyer demand hasn't disappeared, it's just eased from the intensity we've seen over the past two years.
During the pandemic, mortgage rates hit record lows, which in turn caused a significant rise in buyer demand. This year, as rates increased due to rising inflation, buyer demand softened as a result. But context is important. Take a look at the Showing Index in July over the Last 6 Years:
This visual makes it clear that, while showings are down compared to the frenzy in 2020 and 2021, activity is STILL beating pre-pandemic levels. Those pre-pandemic years were great years for the housing market. This shows there's still demand if you sell your house today.
The key to selling in a changing market is to fully understand where the housing market is now. Is it the same market we had last year or even earlier this year? No, but that doesn't mean the opportunity to sell has passed.
It's still a seller's market and working with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. A recent survey from realtor.com, showed 92% of homeowners who sold last month (August) reported being satisfied with the outcome of their sale.
Bottom Line is buyer demand hasn't disappeared, it's just moderated this year. If you're ready to sell your house today, lean on a trusted real estate professional and give us a shout!