December 18, 2023

If concerns about diminished buyer demand due to rising mortgage rates have kept you on the fence about selling your house, rest assured – there are still numerous interested buyers in the market. While the housing market may not be as feverish as during the ‘unicorn’ years, it’s far from stagnant.

Buyer Activity Remains Strong

Contrary to the peak demand observed in the ‘unicorn’ years, the housing market is still vibrant. The ShowingTime Showing Index, a gauge of home tours, reveals sustained buyer activity. Although there has been a dip in demand in response to higher mortgage rates when compared to the last normal years (2018-2019), buyer activity remains notably higher.

Sellers Experience Multiple Offers

Recent data from the National Association of Realtors (NAR) indicates that sellers are still receiving an average of 2.5 offers on their properties. While this is fewer than the ‘unicorn’ years, it represents a slight increase from the previous year and surpasses the norm from the pre-‘unicorn’ housing market.

Homes Priced Right Sell Quickly

Strong buyer demand is evident not only in the number of offers sellers receive but also in the speed at which homes are selling. Low inventory levels have intensified competition, and appropriately priced listings are moving swiftly, according to Zillow. NAR data on median days on the market further supports this, showing that homes are selling only slightly slower than during the peak of the ‘unicorn’ years and significantly faster than in the last normal years.

Act Now for a Successful Sale

The bottom line is that you haven’t missed the opportunity to sell your house. With sellers still garnering multiple offers and homes selling rapidly, the current market is favorable. When you’re ready to make a move, lets connect to kickstart the selling process. Don’t miss out on the chance to capitalize on the robust buyer demand in today’s market.