More Buyers Are Making Moves — Is It Time To Sell?
More Buyers Are Making Moves — Is It Time To Sell?
More people are beginning to buy homes, suggesting it might be the right time for you to consider moving.
In recent years, many prospective homebuyers paused their plans due to climbing mortgage rates and affordability issues. However, more individuals are re-entering the market as they adjust to what appears to be the new norm. This shift comes amid predictions that mortgage rates are beginning to stabilize, according to the National Association of Realtors (NAR).
"Home buyers seem to be getting over the shock of mortgage rates in the mid- to upper-6% range."
This is encouraging for your selling plans. Although we won't see a sudden influx of buyers, there are signs that motivated buyers are re-entering the market. Here's the data supporting this trend:
3 Signs Buyers Are Ready To Make Their Move
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Increase in Mortgage Applications: Recent data from the Mortgage Bankers Association (MBA) indicates a significant 37% increase in mortgage applications since the year began, signaling that more buyers are preparing financially to enter the market.
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Rising Buyer Demand: The Homebuyer Demand Index from Redfin shows a 3% increase in buyer demand since late January. Although this isn't a dramatic rise, it suggests a positive trend in market activity.
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Higher Home Showings: According to ShowingTime, home showings have risen by 13% since the start of the year, indicating a growing interest from potential buyers. This increase in showings could lead to more offers for your home.
Looking Ahead: These trends are encouraging as we approach spring, traditionally the most active season in the real estate market. Now could be an optimal time to list your home to capture the attention of these active buyers.
Bottom Line: With the resurgence of buyer interest, it's a promising time to re-enter the market. If you're considering selling, let's discuss how to position your home effectively to meet this growing demand.
Are you prepared to take advantage of this opportunity if the ideal buyer were to come along tomorrow?
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