Facebook
X
Pinterest
Copy Link
Is Buyer Demand Picking Back Up? What Sellers Should Know.
The housing market hasn’t felt this energized in a long time – and the numbers backing that up are hard to ignore. Mortgage rates have eased almost a full percentage point this year, and that shift is starting to wake up buyers.
Home loan applications have risen. Activity has picked up. And sellers who step in early could benefit from the momentum long before the competition catches on.
Let’s take a look at what’s happening behind the scenes and how you can take advantage of it.
When Rates Come Down, Buyer Activity Goes Up
In today’s market, buyer demand is closely tied to what happens with mortgage rates. As rates come down, applications for home loans go up. Rick Sharga, Founder and CEO of the CJ Patrick Company, explains it like this:
“We’re in an incredibly rate-sensitive environment today, and every time we’ve seen mortgage rates drop into the low-to-mid 6% range, we’ve seen an influx of buyers hit the market.”
And that’s exactly what the data shows. More people who were sidelined are applying for mortgages again now that borrowing costs have come down. Of course, that’s going to ebb and flow just like rates ebb and flow. But the bigger picture is, there’s been improvement as a whole since rates started coming down.
In fact, the Mortgage Bankers Association (MBA) shows the Mortgage Purchase Index is hovering at the highest level so far this year:
And that’s not the only sign of optimism. MBA also shows mortgage applications recently hit their highest point in almost 3 years too. A clear sign demand is moving in the right direction heading into 2026:
And just in case you were wondering, it’s not just pent-up demand coming out of the government shutdown that slowed some of the processing of government loans for a month or so. If you look back at the last graph, you’ll see the steady build-up of momentum throughout the entire year.
The big takeaway for you is this. Now that rates have come down, buyers are starting to ease back into the game. And that’s turning into real contracts on homes just like yours.
Home Sales Are Rebounding
Just to really drive home that this is trending in a good direction, the most recent report from the National Association of Realtors (NAR) shows pending home sales (homes that are under contract) are picking up too. The Pending Home Sales Index is also at the highest it’s been all year (see graph below):
And that means the market is ending the year on a high note and headed into 2026 with renewed energy. While that may not seem like a big shift, it’s a rebound worth talking about.
Pending home sales are a leading indicator of where actual sales are going. If more homes are going under contract, it’s a good sign more homes will actually close over the next two months, ultimately boosting sales. This could be part of why experts project home sales will inch higher in 2026 than they were in 2025 or in 2024.
Of course, this may ebb and flow a bit as we see some year-end volatility with mortgage rates. But, it shouldn’t be enough to change this overall trend. Expert forecasts say rates should stay pretty much where they are throughout 2026. That means the stage is set for this momentum to continue going into the new year.
What This Means for You
Here’s the opportunity. Selling now means:
- More buyer demand. As affordability improves, you could see more buyer traffic and home showings (if your house is priced and staged right). And the best part? The buyers who are re-engaging feel like they’ve already waited too long for this moment. So, they’ll be eager to move.
- Being ahead of the curve. Listing sooner rather than later puts you ahead of the game, before other sellers realize something’s shifted.
Whether you’ve been putting off selling because you thought buyers weren’t buying, or you took your house off the market because you weren’t getting any bites, this is your sign to act.
Bottom Line
Want to know what’s happening with buyer activity in your area, and what it could mean if you want to sell your house in the new year?
Let’s talk about getting your house listed in early 2026, so you can take advantage of this momentum building in the market.
You May Not Want To Skip Over That House That’s Been Sitting on the Market
When you see a house that’s been sitting on the market for a while, the reaction is almost automatic. You start thinking:
- What’s wrong with it?
- Why hasn’t anyone bought it yet?
- Am I missing something?
That mindset made sense a few years ago. But in today’s market, you may actually miss out.
More Time on Market Isn’t Automatically a Concern Anymore
A few years ago, homes sold in just a matter of days. Sometimes, hours. Anything that lingered longer than that raised concerns. But that’s no longer the baseline.
Inventory has grown. Buyers have more choices. And homes are taking longer to sell across the board. Those are some of the reasons why the typical time it takes a home to sell has climbed this year:
And it’s not that 73 days is slow. That’s actually pretty normal for this time of year. It just feels slow because you heard so much about houses being snapped up in the buying frenzy a few years ago.
That shift alone explains a lot of what you’re seeing. It’s not necessarily that there’s anything wrong with the house itself. Although, let’s be honest, sometimes that is the case.
Most of the time today, a house that’s taking longer to sell simply means:
- There are a lot of homes for sale in that area
- The seller priced a little too high at first
- The home didn’t photograph as well online
- Buyers passed it over for flashier listings nearby
- The timing just wasn’t right when it first hit the market
None of those are necessarily deal-breakers.
What Buyers Often Get Wrong About These Listings
Because even though you may assume a house that hasn’t sold must have hidden issues, the reality is, that’s not always the case. And, if the house does have issues, it’ll show up quickly in your inspection.
That’s information you can use to negotiate. Not a reason to walk away automatically. And in many cases, that’s where buyers find the best deals.
The key is knowing which homes that have been sitting for a while are worth a second look – and which ones aren’t. That’s why working with a local agent makes a real difference. They’ll be able to look at disclosures and more to help you uncover hidden gems other buyers may overlook.
Bottom Line
A home sitting on the market isn’t always a warning sign. Sometimes it’s an overlooked opportunity.
If you want help identifying which homes are worth a second look (and which ones to skip), give me a call and I can help you decide.
*Keeping Current Matters*
Why Pre-Approval Should Be Your First Step – Not an Afterthought
Finding the right home feels exciting – but being pre-approved for your loan is what makes it possible. Whether you’re planning to buy soon or still just thinking about it, getting pre-approved is one of the best moves you can make. Here’s why.
1. What Is Pre-Approval, Really?
Pre-approval is much more than a guess. It means a lender has reviewed your finances (things like your income, assets, credit score, debts, and savings) and told you how much they’re willing to let you borrow for your loan.
It’s basically a reality check for your home search, so you can make sure it aligns with your budget and shop confidently when you’re ready to go.
2. Why It’s a Power Move (Especially Right Now)
The housing market’s been shifting lately with mortgage rates moving, prices moderating, and inventory rising. So, knowing what you’re working with in the current market is a big reason why pre-approval matters. Here’s what it gives you:
- Clarity: You’ll know what you can afford before you fall in love with a house that’s potentially out of reach.
- Confidence: Sellers will take your offer seriously when they see you’re pre-approved because you’re not a risky buyer.
- Control: If rates come down and you want to jump on the moment, you’re already a step ahead with your plan.
As Experian explains:
“. . . you’ll want to make sure you receive your preapproval letter before you start looking at homes so you can submit a strong offer as soon as you find what you want. The process can take anywhere from a day to a few weeks, so if you procrastinate, you may lose out to a competing offer.”
And once you find a home you want to put an offer on, pre-approval has another big perk. It not only makes your offer stronger, it shows sellers you’ve already undergone a credit and financial check. As Greg McBride, Chief Financial Analyst at Bankrate, says:
“Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements. A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount.”
Translation: Pre-approval helps you make stronger, more informed decisions – and it helps you avoid missing out on a home or getting stuck on the sidelines when the right one hits the market. Because the reality is, competition might be lower these days, but desirable homes (especially the ones that are priced well) still go quickly.
3. Don’t Wait Until You’re “Ready”
Think of it this way: pre-approval doesn’t mean you’re buying a house tomorrow. It just means you’ll be ready when the time comes. And most pre-approvals are good for 60–90 days and can be refreshed easily if your plans change.
So, here’s a good place to start. Ask yourself this question: “If the perfect home came along today, would you be ready to make an offer?”
If your answer is “not quite,” then pre-approval is your next step.
Bottom Line
Pre-approval doesn’t box you in. It opens doors.
In today’s market, buyers who win aren’t the ones who wait. They’re the ones who plan. So, if you’re even thinking about buying in the next few months, get ahead of the game by connecting with your trusted lender. If you would like a referral to an agent that I have worked with, give me a call.
We can help you understand what how the process works and walk you through every step along the way, so when the right home pops up, you’re ready.
Thinking about Selling Your House As-Is? Read This First.
If you’re thinking about selling your house this year, you may be torn between two options:
- Do you sell it as-is and make it easier on yourself? No repairs. No effort.
- Or do you fix it up a bit first – so it shows well and sells for as much as possible?
In 2026, that decision matters more than it used to. Here’s what you need to know.
More Competition Means Your Home’s Condition Is More Important Again
Over the past year, the number of homes for sale has been climbing. And this year, a Realtor.com forecast says it could go up another 8.9%. That matters. As buyers gain more options, they also re-gain the ability to be selective. So, the details are starting to count again.
That’s one reason most sellers choose to make some updates before listing.
According to a recent study from the National Association of Realtors (NAR), two-thirds of sellers (65%) completed minor repairs or improvements before selling (the blue and the green in the chart below). And only one-third (35%) sold as-is:
What Selling As-Is Really Means
Selling as-is means you’re signaling upfront that you won’t handle repairs before listing or negotiate fixes after inspection. That can definitely simplify things on your end, but it also narrows your buyer pool.
Homes that are move-in ready typically attract more buyers and stronger offers. On the flip side, when a home needs work, fewer buyers are willing to take it on. That can mean fewer showings, fewer offers, more time on the market, and often a lower final price.
It doesn’t mean your house won’t sell – it just means it may not sell for as much as it could have.
How an Agent Can Help
So, what should you do? The answer isn’t one-size-fits-all. It’s going to depend a lot on your house and your local market.
And that’s why working with an agent is a must. The right agent will help you weigh your options and anticipate what your house may sell for either way – and that can be a key factor in your final decision.
- If you choose to sell as-is: They’ll call attention to the best features, like the location, size, and more, so it’s easy for buyers to see the potential, not just the projects.
- If you decide to make repairs: Your agent can pinpoint what’s really worth the time and effort based on your budget and what buyers care about the most.
The good news is, there’s still time to get repairs done. Typically speaking, the spring is the peak homebuying season, so there are still several months left before buyer demand will be at its seasonal high. That means you have time to make some repairs, without rushing or stressing, and still hit the listing sweet spot.
The choice is yours. No matter what you end up picking, your agent will market your house to draw in as many buyers as possible. And in today’s market, that expertise is going to be worth it.
Bottom Line
While selling as-is can still make sense in certain situations, in some markets today, it may cost you. So, no, you don’t have to make repairs before you list. But you may want to.
To make sure you’re considering all your options and making the best choice possible, give me a call to have a quick conversation about your house.
Locked In Place: Why Millions of Homeowners Can’t Afford to Move
For years, America’s housing challenges have been framed as a simple supply-and-demand problem—low inventory, rising interest rates, and affordability constraints. But beneath those familiar headlines lies a deeper, structural issue we unintentionally created.
Today, millions of homeowners are wealthier on paper than ever before. They hold record levels of equity and historically low mortgage rates. Yet many of them cannot afford to move.
Not because they lack buying power.
But because moving no longer makes financial sense.
The Mortgage Lock-In Effect
Recent national data shows just how severe this gap has become. According to Realtor.com, the typical U.S. homeowner currently pays about $1,300 per month in principal and interest. Selling that home and purchasing a “typical” home today would require a monthly payment of approximately $2,236—a 73% increase in housing cost.
This growing gap is known as the mortgage lock-in effect. Homeowners who secured ultra-low rates during 2020–2021 are effectively trapped by them. Giving up a 3% mortgage to buy into today’s higher-rate, higher-price market often means paying significantly more—sometimes for a comparable or even smaller home.
The market isn’t frozen because people don’t want to move.
It’s frozen because moving comes with a financial penalty.
From Pandemic Stimulus to Market Stagnation
When mortgage rates fell below 3% during the pandemic, buyers surged into the market. Millions refinanced. Millions more purchased homes. Cheap financing softened the sting of rising prices, allowing values to climb rapidly—often 25% to 40% in many markets.
When inflation followed, rates snapped back sharply. Prices, however, did not.
The same mechanism that once encouraged mobility now suppresses it.
Federal housing research confirms this effect. A Federal Housing Finance Agency (FHFA) working paper estimates that rising mortgage rates have prevented millions of otherwise normal home sales by discouraging owners from listing their homes.
Why Homeowners Are Staying Put
It’s easy to assume homeowners stay because they “love their homes.” Many do—but that only tells part of the story. The real constraint is financial.
Homeowners face a stark choice:
-
Give up an exceptionally low interest rate
-
Buy into a market with both higher prices and higher borrowing costs
Even selling at a profit often results in higher monthly expenses and reduced flexibility. Equity becomes difficult to use when accessing it raises your cost of living.
This isn’t a lifestyle decision.
It’s a structural trap.
The Ripple Effect on the Housing Market
When homeowners can’t move, inventory shrinks. When inventory shrinks, affordability worsens—especially for first-time buyers.
This dynamic is already visible. Sellers are increasingly choosing to pull listings rather than cut prices or trade into higher-rate mortgages. According to Investopedia, delistings surged 45% year over year, highlighting the reluctance of owners to transact under current conditions.
Low inventory, in this context, is not the cause—it’s the symptom.
How We Unlock a Trapped Housing Market
This is not a short-term cycle. It’s a structural flaw that requires structural solutions:
-
Portable and assumable mortgages that allow buyers to take over existing low-rate loans
-
Incentives for downsizing and life transitions, particularly for long-time homeowners
-
Housing built for real demand, including townhomes, ADUs, and smaller, more attainable options
-
Modern mortgage products designed for flexibility and mobility—not just long-term lock-in
-
Greater transparency around equity use, so homeowners understand the true cost of moving
The Bottom Line
We built a housing system that rewards people for staying put and penalizes them for moving. The result is equity without freedom, ownership without mobility, and a market that struggles to function.
Mobility is not a luxury. It is a cornerstone of economic health and household well-being.
If we want a housing market that truly works, we must stop celebrating locked-in equity and start creating real pathways forward.
The American Dream only works if people can move with it.
Sources:
Source: Realtor.com – A 73.2% Spike in Monthly Payments for Moving Traps U.S. Homeowners in Place
Source: Investopedia – Delistings Jump 45% as Sellers Pull Homes Rather Than Cut Prices
Source: FHFA – The Lock-In Effect of Rising Mortgage Rates (PDF)
Why Buying a Home Still Pays Off in the Long Run
Renting can feel much less expensive and much simpler than buying a home, especially right now. No repairs, no property taxes, no worrying about mortgage rates – you just pay the bill and move on with your life.
But here’s the part people don’t talk about enough: renting doesn’t help you build your financial future. Meanwhile, homeowners grow their net worth just by owning a home.
So, if you’ve been wondering whether buying is still worth it, the long-term math is clearer than you might think.
Renting vs. Owning: How the Costs Really Compare
Let’s break down one of the key differences between renting and buying. When you rent, your payment goes to your landlord, and then it’s gone. When you own, part of your payment comes back to you in the form of equity (the wealth you build as the value of your home increases, and you pay down your home loan).
So, while renting may seem more affordable now, you have to remember it comes at a long-term cost: you’re not building your wealth. And it turns out, that’s a bigger miss than you may expect.
First American recently analyzed the long-term financial impact of renting versus owning a home. They compared mortgage payments, property tax, insurance, repairs, and maintenance against the equity gained through home price appreciation and paying down the mortgage. And they did that during several different time frames to see if it tells a consistent story:
- 2006: the start of the housing bubble
- 2015: 10 years ago
- 2019: just before the pandemic (the last normal years in the market)
- 2022: when mortgage rates jumped
In each time frame, two things were true: renters ended up losing money over time. And homeowners gained it.
Here’s some data so you can see this play out. Each color represents one of the key time frames. The solid lines show the buyer’s investment over time and how their net worth actually grew the longer they lived in their home. The dashed line represents the renter’s investment. In the end, they sank more and more cash into renting without gaining any financial benefit.
The takeaway is simple: time in a home builds wealth. Time renting doesn’t.
Basically, homeowners come out ahead. And the analysis shows that’s even after you factor in the other expenses that come with homeownership, like insurance, repairs, and property taxes. And that’s the case for every time frame First American looked into.
On the flip side, renters spent money on their rent, but didn’t gain any long-term financial benefit. That’s true no matter what window of time you look at in the study.
Now, that doesn’t mean buying always beats renting in the short term. But the longer you own, the wider the wealth gap becomes.
Affordability Is Starting To Improve
You might still be thinking, “Okay, but buying feels out of reach for me right now.” Fair.
The past few years haven’t been easy for buyers. But things are starting to shift. Mortgage rates have come down this year, home prices are softening, and incomes have been rising. And according to Zillow, typical monthly payments have gotten a little easier compared to this time last year. Not by a lot, but enough to make a difference.
No, buying isn’t suddenly easy. But it is easier than it was just a few months ago. And in the long run, history shows it’s worth it.
Bottom Line
Renting may feel less expensive today, but owning is what builds real wealth over time. And with affordability starting to improve, the path to homeownership may be opening up more than you think.
If you’re curious what buying could look like for you, give me a call and I can help you plan your next move, pressure-free.
Keeping Current Matters
Would You Let $80 a Month Hold You Back from Buying a Home?
I found this article from Keeping Current Matters very insightful! I hope you will too
Would You Let $80 a Month Hold You Back from Buying a Home?
A lot of buyers are stuck in “wait and see” mode right now. They’re watching rates hover a little above 6% and thinking, I’ll buy once they hit the 5s. Because who doesn’t want a better rate?
But here’s the thing: that 5.99% number might not save you as much as you think.
Affordability is still a challenge. There’s no question about that. But the market has given savvy buyers a head start. Mortgage rates have already come down over the past few months. And the drop we’ve seen saves you more than you’d think.
How Much You’ve Already Saved, Without Realizing It
Let’s put some real numbers to it. Rates peaked for the year in May when they inched above 7%. But since then, they’ve been slowly declining. Now, they’re sitting in the low 6s. And while that may not sound like a big deal, that change translates to real dollars.
According to data coming out of Redfin, the typical monthly payment on a $400,000 home is already down almost $400 since May.
That means if you’re buying a home now, you’re saving hundreds of dollars every month compared to what you would have been able to get earlier this spring. That’s real money that makes a real difference for buyers who paused their plans because they thought homeownership was out of reach.
And while it may be tempting to wait even longer to see bigger savings, that’s a gamble that could cost you. Here’s why.
Where Experts Say Rates Are Headed
For starters, most experts say mortgage rates are likely to stay pretty much where we are today throughout 2026. So, there’s no guarantee we’ll see a rate much lower than what we have now. Only one expert forecaster is saying rates could fall into the upper 5s next year (see graph below):
And even if rates do dip below 6%, the extra savings you’re holding out for won’t move the needle as much as you might expect.
The Real Math Behind a 5.99% Rate
Let’s break it down. If rates come down to 5.99% from where they’ve been lately that’s a difference of only about $80 a month on an average priced home – give or take a bit based on your price point and the rate your lender quotes you (see chart below):
Eighty dollars. That’s it. And for the typical family, that’s about one dinner out (or one dinner in, if you have it delivered). That’s not enough to change the game for most buyers. But the savings of nearly $400 we already have compared to when you paused your search in the spring? That might be.
So, the question to ask yourself is this:
Is an extra $80 savings really worth the wait?
Because while you’re holding out for that small dip, the bigger opportunity might be slipping away.
When Rates Fall, Competition Follows
Right now, you have more homes to choose from, sellers who are ready to negotiate to get a deal done, and fewer buyers to compete with. But once rates fall below 6%, buyer mindsets will shift and all of that will change.
The National Association of Realtors (NAR) reports that if rates hit 6%, about 5.5 million more households will be able to afford the median-priced home. Even if only a small fraction of them decide to buy, that could mean hundreds of thousands of buyers getting back into the market.
That creates more competition for you, which would push home prices even higher – maybe high enough to cancel out the extra savings you waited for.
So, if you’re waiting for rates below 6%, just keep in mind… that extra $80 may not be worth it in the grand scheme of things.
Bottom Line
You don’t have to wait for 5.99%. You have the chance to move (and save) right now. So, ask yourself: Would you let $80 hold you back from buying a home?
If you find a home you love and the math makes sense, getting ahead may be the best strategy. Connect with an agent or lender to run your numbers. That way you can see what you’re working with in your market.
Thought the Market Passed You By? Think Again.
Have you felt like the housing market passed you by? The latest blog from Keeping Current Matters reveal that might not be the case. With affordability improving and more homes hitting the market, buyers in Placer County and beyond are finding new opportunities. This article breaks down what these trends mean locally and why now could be the perfect time to make your move.
Suzanne Volkman
************************
If you stepped back from your home search over the past few years, you’re not alone – and you’re definitely not out of options. In fact, now might be the ideal time to take another look. With more homes to choose from, prices leveling off in many areas, and mortgage rates easing, today’s market is offering something you haven’t had in a while: options.
Experts agree, buyers are in a better spot right now than they’ve been in quite a long time. Here’s what they have to say.
Affordability Is Finally Improving
Lisa Sturtevant, Chief Economist at Bright MLS, says affordability is finally starting to turn the corner:
“Slower price growth coupled with a slight drop in mortgage rates will improve affordability and create a window for some buyers to get into the market.”
Mortgage rates have eased from their recent highs, price growth has slowed, and that one-two combo is making homes more affordable than they’ve been in months.
There Are More Homes on The Market
And a big reason prices are easing is because there are more homes on the market. According to the latest from Realtor.com, there are 17% more homes for sale today than there were at this time last year. That means more options, less competition with other buyers, and a chance to find the space that actually works for you.
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), shares:
“Homebuyers are in the best position in more than five years to find the right home and negotiate for a better price. Current inventory is at its highest since May 2020, during the COVID lockdown.”
Take a look at the numbers.
As Yun notes, inventory is up everywhere. Compared to this time last year, every region of the country has more homes on the market than at this time last year (see graph below):
That translates to more homes to choose from, whether you’re looking for a bigger backyard, a shorter commute, or finally ditching your rental.
But not all markets are the same…
When you compare current inventory growth to pre-pandemic norms (2017-2019), the picture changes a bit, depending on where you are (see graph below):
The green bars show where inventory has fully recovered (and even grown above pre-pandemic levels) in the South and the West. Supply, however, is still tighter in the Northeast and Midwest, as shown in the red bars, where inventory is still below normal.
And here’s why that’s still a win everywhere.
When you step back and look at the bigger picture, with inventory up in every region, that means more choices everywhere, even if some areas have more homes for sale than others.
And with fewer buyers in the market and more homes for sale, sellers are willing to negotiate to get a deal done.
All of that adds up to a win for today’s buyers.
And it’s also why working with a local expert really makes a difference. What’s happening in your zip code or neighborhood might look different than the national or regional trend. But the overall takeaway is clear: with more homes on the market, buyers have more leverage than they did a year or more ago.
So, if you stepped away from your search because things felt too competitive, too pricey, you were worried about finding a home, or it was all just too much to process, this could be your moment to take another look.
And if you’re not quite ready to go all in, that’s okay too. You can start by planning ahead. That means working with a trusted agent who can help you break down your budget, narrow your search, and make sure you’re prepped and ready when the right home hits the market.
Bottom Line
Want to know what’s happening in your local market? Feel free to give me a call and ask for a custom overview of what’s available right now, so you can learn how to be ready when the timing is right for you.
Because this isn’t 2021.
This isn’t even 2023 or 2024.
This is a new market – and you might be surprised by what you find.
Keeping Current Matters
Why You Don’t Need To Be Afraid of Today’s Mortgage Rates
Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, “Maybe I’ll wait.” But here’s the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.
The Magic Number
According to the National Association of Realtors (NAR):
“. . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it’s likely that about 10%—or 550,000—of those additional households would buy a home over the next 12 or 18 months.”
When the market hits that mortgage rate sweet spot, as expert forecasters are starting to say is more likely in 2026, the psychological shift to lower rates will kick in for more of today’s hopeful buyers. That will unleash some pent-up demand that’s been waiting on the sidelines, and the increase in activity will cause prices to rise.
And while a 5.99% rate might sound like a big win, if you’re waiting for that number to make your move, it might not actually save you as much as you think. Here’s how the math looks when you run the numbers (see chart below):
On a $400,000 mortgage, the difference between today’s rate (around 6.2%) and 5.99% is roughly $50 a month. That’s less than many people spend on weekly coffee runs or occasional DoorDash orders. And as prices tick up with more buyers in the market, that could quickly negate any of your potential savings.
So, if you’re waiting for 5.99%, that difference might not be worth missing out on today’s opportunities, like having more homes to choose from, better negotiation leverage with today’s sellers, and fewer buyers out there looking for the same houses.
Because the reality is, those benefits start to slip away when more buyers begin to make their moves – and a rate under 6% is exactly they’re waiting for.
Why Acting Now Makes Sense
Jessica Lautz, Deputy Chief Economist and VP of Research at NAR, says:
“Over the last 5 weeks, mortgage rates have averaged 6.31%. This has provided savvy buyers a sweet spot to reexamine the home search process with more inventory, widening their choices.”
And like Matt Vernon, Head of Retail Lending at Bank of America, notes:
“Rather than waiting it out for a rate that they like better, hopeful homebuyers should assess their personal financial situation—if the house is right for them, and the upfront and monthly payments are affordable, it could be the right chance to make a move.”
Bottom Line
If moving at today’s rate scares you, remember, waiting doesn’t always pay off. Once rates dip below 6%, as some experts project they’ll do next year, more buyers (and higher prices) will be back.
So, don’t be afraid of today’s mortgage rates. Because if you’re ready, this might just be your chance to make a move before the market wakes up again.
Keeping Current Matters
To find out what you can afford, head over to my Financial Calculator page.
Why Overpricing Is Hurting Sellers in Today’s Market
If you’re a homeowner thinking about selling—or already on the market—this is a must-read. Ryan Lundquist of the Sacramento Appraisal Blog has penned a powerful open letter to sellers whose homes aren’t moving because they’re priced too high. In today’s shifting market, buyers are more selective than ever, and homes that don’t check all the boxes—especially on price—are being passed over.
Ryan breaks down why the red-hot market of 2021 is behind us, and how today’s buyers are demanding more for their money. He also introduces the concept of the “purple pill”—a combination of price reductions and buyer concessions—as a strategy for sellers to stay competitive.
If you’re wondering why your home isn’t selling or want to avoid common pricing pitfalls, I highly recommend reading the full post. It’s honest, insightful, and packed with practical advice.
