Will My House Sell in Today's Market?

Will My House 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, it’s 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):

Will My House Still Sell in Today’s Market? | MyKCM

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):

Will My House Still Sell in Today’s Market? | MyKCM

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 there’s 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. It’s 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, it’s still a sellers’ market. If you work with a trusted local expert to price your house at the current market valuethe 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, it’s just moderated this year. If you’re ready to sell your house today, let’s connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Recent Blog Posts

Why Homeowners Feel Thankful for Their Homes [INFOGRAPHIC]

Here are three reasons why homeowners feel thankful for their homes.

Why Homeowners Are Thankful They Own

Countless people have set out on the exciting journey of homeownership. Ask around and you’ll find the vast majority are thankful they took the leap and bought a home.… Read more

Home Prices Still Growing – Just at a More Normal Pace

Home price appreciation is returning to normal seasonality and that’s a good thing.

Are There Actually More Homes for Sale Right Now?

If you’re looking to make a move, you want to be sure you have the latest information on the housing market.

Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season?

There are plenty of good reasons to put your house on the market during the holiday season.

2024 Housing Market Forecast [INFOGRAPHIC]

Thinking of buying or selling a house and wondering what the new year holds for the housing market?

People Are Still Moving, Even with Today’s Affordability Challenges

You might think there aren’t many people buying or selling homes right now since affordability is tighter than it’s been in quite some time, but that’s not the case.

The Latest 2024 Housing Market Forecast

The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home.

These Top Cities Show Home Prices Are Still Climbing

If you delayed moving because you were concerned home prices would drop, don't worry – the numbers show they're going up nationally.

Work With Us

We're fortunate to be able to do what we want to do every day, and what we want to do is help clients live a better, more secure life. Whether you're buying a home, looking to sell or relocate, or are an investor, we can help you. No agents will work harder for you, because to us, going to bat for you, isn't work. That's just what you do when you're a team.

Follow Me On Instagram