Want To Sell But Worried About The Market? Here’s The Real Score!

Maybe you’ve been holding back from selling your home, caught up in the chatter about mortgage rates rising and fearing that there aren’t buyers out there for your place. But let’s cut through the noise and look at the actual data, because spoiler alert: there are plenty of buyers on the hunt, and they are sealing deals left and right.

I’d like to introduce you to a close friend of mine in the real estate world: the ShowingTime Showing Index. It’s basically the pulse of home tours, giving us a real-time glimpse into buyer activity. Just take a peek at this graph that paints the picture clearly:

What jumps out from the June 2023 data is that the buying activity is not just steady but booming, beating the usual trends for this season. The buyers are out there, and they're more active than in any regular year.

You might be scratching your head wondering how this is the case, right? Well, the secret lies in adaptation. Buyers have embraced the higher mortgage rates as the new normal, warming up to the current market dynamics. Danielle Hale, the Chief Economist at Realtor.com, shares the sentiment:

“Interest rate hikes continue to further cut into buyers' purchasing power, although they appear to have adapted to the higher mortgage rate environment . . .”

So here’s the nitty-gritty: there will always be buyers, and the ones who can shoulder the current rates are on the move, actively seeking homes.

What Does This Mean for You?

Yes, we aren't witnessing the frenzy that had almost become synonymous with the housing market in the past couple of years. But make no mistake, the market is anything but stagnant. The buyer traffic is buzzing, and many are taking decisive steps towards securing a home.

So, why stay in limbo about your own home-selling plans? The market is ripe and bustling with potential buyers, painting a favorable landscape for sellers.

The Bottom Line

Don't postpone your dreams based on unfounded apprehensions that your home won't find a buyer. The reality is quite the contrary, with buyer activity soaring beyond the usual norms. Let’s work together to prep your home for sale, showcasing it in the best possible light to the swarm of enthusiastic buyers out there.