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Can I sell my House in this current Market?

Friday, September 23, 2022   /   by Laura Larson

Can I sell my House in this current Market?

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Here's what you need to know if the recent news about the cooling of the housing market and decreasing buyer demand have you scared you might have missed your chance to sell. The buyer demand is still there; it has just slowed down from the peak intensity it reached over the previous two years.

Then and Now: Buyer Demand
Mortgage rates reached record lows throughout the COVID pandemic, which significantly increased buyer demand. Buyer demand retreated or slowed this year as rates rose as a result of growing inflationary pressure.

The data from the previous few months and the market's apparent cooling off is reflected in the number of home showings since mortgage rates started to rise. Context, though, is crucial. So, despite the slowing down in home showings compared to the frenzy in 2020 and 2021, home touring activity is still outpacing pre-pandemic levels, which were excellent years for the housing market. That proves that there is still a market for homes that are being sold today.

What does this mean when you Sell
Understanding the current state of the housing market is essential for selling in a dynamic environment. Although the market is not what it was last year or even earlier this year, the chances your house will sell are strong.

Despite a slight cooling in the market, it's still a sellers' market. The demand is still there, so if you consult with a reliable local expert to set your home's asking price right, it should sell soon. In a recent poll, 92% of homeowners who sold their homes as recently as in August said they were happy with the results.

Bottom Line
The buyer's willingness to buy a home is still there; it has just slowed down this year. Laura Larson can help you understand how the market has changed and how to arrange the sale of your home accordingly if you feel you're ready to sell your home soon.