What Sellers Need To Know in Today’s Housing Market!

If you're thinking about selling your house, it's important to price it right in today's market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: "Homes priced right are selling very quickly." The housing market has slowed down in recent months, but there are still motivated buyers out there. So if you're asking yourself if you've missed your chance to sell, the good news is you haven't. Here's why.

-It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers (see visual below):

But don’t forget – that’s compared to the severely overheated market we saw over the past two years. According to the latest Confidence Index from NAR:

“. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.”

-In today's market, it's important to price your house right in order to sell quickly. While the market has slowed down from last year and even last month, there are still buyers who are actively looking for homes. The Confidence Index also notes that the average home is selling in just 14 days. If you're aiming to sell your house, be sure to work with your agent to price it accurately for the current market. As buyer demand softens, it's important to understand that this isn't the same market as last year. It's not even the same market as just a few months ago. But it is still a sellers' market. If you're ready to sell your house, seek the advice of a real estate professional. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today. 

Jay Singh Realty | RE/MAX Town & Country | 972-408-5021 | YourDFWRealEstateGuy.com | Top Real Estate Team in DFW |

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