If you've been seeing headlines about slowing home sales, you may be asking yourself whether now is still a good time to sell.
The latest data shows that sales rose slightly in September, although they're still below last year's levels. But there's an important part of the story that those headlines don't always capture.
Homes continue to sell every day. Regardless of what mortgage rates or the economy are doing, life keeps moving forward. People change jobs, welcome new family members, experience changes in their relationships, retire, downsize, or move closer to loved ones.
These milestones create a need for people to buy and sell homes, no matter what the housing market looks like.
Just Look at the Math
According to the National Association of Realtors (NAR), at the current sales pace, nearly 4 million homes are projected to sell this year. Put that into perspective, and it works out to roughly:
- 11,000 homes every day.
- 450 homes every hour.
- 8 homes every minute.
So while the housing market may be moving more slowly than it has in the past, that doesn't mean activity has come to a halt. As Hannah Jones, Senior Economic Research Analyst at Realtor.com, explains:
“Even in today's high-price, high-rate market, homebuying activity around major life events, such as having kids, a job change, or a divorce, keeps the market in motion.”
Buyers are still making decisions and moving forward with purchases every day. If you're planning to sell, the important thing is making sure your home stands out and appeals to the buyers who are actively searching.
What That Means for Your Sale
With more homes to choose from, today's buyers can be pickier about what they want, especially when it comes to price and property condition. That's why starting with the right selling strategy is more important than ever.
The good news is, you don't need every buyer to be interested in your home. You just need to reach the right buyer and have a strategy that helps your property stand out to them.
Bottom Line
Don't let headlines about slowing home sales make you think buyers have disappeared. Homes are still selling every day, even in a market that's moving at a slower pace.
If you're ready to make a move, reach out to Holly & Chris. Let's develop a strategy that helps your home stand out, attract the right buyers, and put you in a strong position to sell.
