Has your house been on the market longer than expected? If so, you may feel frustrated and consider pulling the listing until 2025. However, holding off could actually cost you. Here’s why staying the course may be the smarter move.
Other Sellers Are Pulling Back. Should You?
Recent data shows an increase in the number of sellers withdrawing their listings from the market, which is common during this time of year.
In the housing market, seasonal trends affect inventory levels. Typically, inventory starts to decrease as fall approaches, with some sellers postponing their plans until the new year. As one expert explains:
“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.”
But is this a wise decision? While it might seem sensible to take your listing down, here’s why that approach may not be beneficial this year.
Today’s Buyers Are Serious and Ready To Act
The primary reason to stick with your selling plan is that buyers currently looking are serious about making a purchase.
These buyers have been waiting for conditions to improve and are now ready to take action as mortgage rates have decreased from recent highs. Rising mortgage applications indicate that buyers are preparing to re-enter the market. Since they’ve been patient, they are even more motivated than usual for this time of year.
These aren’t casual shoppers; they are highly motivated buyers who want to move quickly. As experts note:
“During the fall months, serious homebuyers are eager to settle into a new home before the holiday season ramps up and winter weather begins.”
By keeping your home on the market, you enhance your chances of attracting buyers who are truly ready to purchase.
Bottom Line
While some sellers are choosing to remove their homes from the market, this may not be the best choice. With eager buyers ready to act, this is a prime opportunity to sell your house. Connect with your real estate agent to ensure you have a solid strategy in place to make it happen.
