FHFA: U.S. House Prices Rose 4.5% in 2024

Leave a comment February 26, 2025 LaurelMurphyRE

For Sale Sign in Front Yard of House - stock photo Close-up of for sale rider on real estate sign post in front yard of house

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February 25, 2025

Most states and metro areas saw home price growth last year. Prices increased more in areas with tighter inventory.

WASHINGTON – U.S. house prices rose 4.5% between the fourth quarter of 2023 and the fourth quarter of 2024, according to the Federal Housing Finance Agency House Price Index (FHFA HPI). House prices were up 1.4% compared to the third quarter of 2024. FHFA’s seasonally adjusted monthly index for December was up 0.4% from November.

“U.S. house prices grew at a slightly higher rate in the fourth quarter after three straight previous quarters of weaker appreciation,” said Dr. Anju Vajja, deputy director for FHFA’s Division of Research and Statistics. “The price growth accelerated during the quarter as the inventory of homes for sale tightened even further.”

Significant Findings

Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.

House prices rose in 49 states between the fourth quarter of 2023 and the fourth quarter of 2024. The five states with the highest annual appreciation were 1) Connecticut, 8.3%; 2) New Jersey, 8.3%; 3) Wyoming, 8.3%; 4) Vermont, 8.1%; and 5) Rhode Island, 7.6%. House prices declined in Mississippi by 0.2%.
House prices rose in 92 of the 100 largest metropolitan areas over the previous four quarters. The annual price increase was the greatest in urban Honolulu, HI at 18.7%. The metropolitan area that experienced the most significant price decline was Cape Coral-Fort Myers, FL at 6.3%.
All nine census divisions had positive house price changes year-over-year. The Middle Atlantic division recorded the strongest appreciation, posting a 7.1% increase from the fourth quarter of 2023 to the fourth quarter of 2024. The West South Central division recorded the smallest four-quarter appreciation, at 2.3%.

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

Source: Federal Housing Finance Agency

When Is the Perfect Time to Move?

Leave a comment February 12, 2025 LaurelMurphyRE

There’s no perfect time to buy a home – every market has trade-offs. If you’re ready and can afford it, lean on a pro to make the most of current trends.

NEW YORK — It’s easy to get caught up in the idea of waiting for the perfect moment to make your move — especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop, or that home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.

There is no perfect market

No matter when you buy, there’s always some benefit and some sort of trade-off — and that’s not a bad thing. That’s just the reality of it. If you’re not sure you buy into that, think back to the last five years in housing.

Just a few years ago, mortgage rates hit a historic low. To take advantage of that, a ton of buyers rushed to buy a home and lock in those lower rates. The side effect? With such a big increase in how many buyers were purchasing, the homes on the market were snapped up fast. And since that resulted in so few homes left for sale, bidding wars became the norm and home prices went through the roof. Those buyers got a great rate, but they had other things to contend with.

Now, with higher rates and higher prices, it’s more expensive to buy. You can’t argue that. But at the same time, the number of homes for sale is at the highest point in several years. That means you have more options to choose from and you’ll be less likely to find yourself in a pull-out-all-the-stops bidding war. Again, there are benefits and trade-offs in any market.

So, if you have a reason to move and can afford to do so, you’ve got to take advantage of the trends that work in your favor and lean on a pro to help you navigate the rest. As Bankrate says:

“The complexities of the current conditions mean that, now more than ever, it’s smart to lean on the guidance of an experienced local real estate agent. If you want to enter the housing market in 2025, whether as a buyer or a seller, let a pro lead the way for you.”

While achieving your goals may feel like an uphill battle in today’s complex market, it is doable. But you’ll need the help of a trusted real estate agent and a lender.

Your agent will help you explore creative solutions — like looking into different housing types (like smaller condos), considering homes that need a little elbow grease, or casting a wider net for your search area. And your lender will walk you through different loan options and down payment assistance programs, so you know what you need to do to make the numbers work for you. As Yahoo Finance says:

“Buying a house at a time when both mortgage rates and home prices are favorable is a challenge. You probably shouldn’t try to time the housing market … Buy when it makes sense for you personally.”

Bottom line

There’s no perfect time to move — every market has its pros and cons. The key is knowing how to make the most of the factors working in your favor. If you need to move and can afford to do it, let’s connect so you’ll have the guidance and tools to make it possible.

83% of Outstanding Mortgage Debt Has a Sub-6% Rate

Leave a comment January 16, 2025 LaurelMurphyRE

Realtor.com – Hannah Jones – Jan 10, 2025

After roughly four months of improving mortgage rates, the tides have turned and rates are near 7% once again. Rates reached a recent low of 6.08% in late September, before climbing up to 6.9% in the most recent week. Mortgage rates have remained above 6% since September 2022, keeping many would-be sellers “locked in“ and hindering total inventory recovery.

Housing supply has improved over the past year but remains below pre-pandemic levels. Scarce inventory has kept upward pressure on home prices, especially in affordable areas where homes continue to sell at a quick clip and buyers face considerable competition. New-construction inventory has helped fill the gap, and the new-home share of inventory has climbed beyond pre-pandemic levels. As a result, new-home sales climbed annually for the majority of months in the past couple of years.

In the third quarter of 2024, 21.3% of outstanding mortgages had an interest rate below 3%. The Freddie Mac fixed rate on a 30-year loan dipped below 3% in July 2020, and generally stayed below the 3% threshold through September 2021. Highlighting how extraordinary these conditions were, this was the only period in the data’s history (since 1971) where rates dropped below this threshold.

Outstanding Mortgage Rate	Share of Mortgages (2024 Q3)	Cumulative Share
< 3%	21.3%	21.3%
3% to 4%	33.9%	55.2%
4% to 5%	18.1%	73.3%
5% to 6%	9.5%	82.8%
6% +	17.2%	100%

Roughly a third (33.9%) of outstanding mortgages have an interest rate between 3% and 4%, 18.1% have a rate between 4% and 5%, 9.5% have a rate between 5% and 6%, and 17.2% have a rate of 6% or greater.

Altogether, this means that more than half of outstanding mortgages have a rate of 4% or lower, and roughly three-quarters have a rate of 5% or lower. Looking at the year ahead, we expect that by the end of 2025, the share of mortgages below 6% could fall close to 75%. Put differently, we expect the share of mortgage holders with a rate of 6% or higher to increase by roughly 8 percentage points.

The share of homeowners holding a mortgage with a rate of 6% or higher increased nearly 5 percentage points between Q3 2023 and Q3 2024 as buyer activity carried on, despite high rates. Even in today’s high-price, high-rate market, homebuying activity around big life events (kids, marriage, divorce, etc.) keeps the market in motion. Though the lock-in effect continues to affect the market, a recent survey revealed that a sizable 40% of potential buyers would find a home purchase feasible if mortgage rates were to drop below 6%, and 32% of buyers would be willing to participate if rates dropped below 5%. Easing inflation and mortgage rates will be key drivers of seller activity, which will relieve some of the price pressure and competition felt in today’s under-supplied market.

Home Price Growth Reaccelerates in Q4

Leave a comment January 15, 2025 LaurelMurphyRE

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The housing market needs mortgage rates to decrease to help unwind the lock-in effect and thaw the supply of existing homes for sale, Fannie Mae said.

WASHINGTON — Single-family home prices nationally increased 5.8% from Q4 2023 to Q4 2024, an acceleration from the previous quarter’s downwardly revised annual growth rate of 5.4%, according to the latest reading of the Fannie Mae Home Price Index (FNM-HPI).

On a quarterly basis, home prices rose a seasonally adjusted 1.7% in Q4 2024, up from the downwardly revised 1.2% growth rate in Q3 2024. On a non-seasonally adjusted basis, home prices increased just 0.3% in Q4 2024. The FNM-HPI is a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos.

“Year-over-year home price growth accelerated in the fourth quarter, following back-to-back quarters of deceleration,” said Mark Palim, Fannie Mae senior vice president and chief economist. “Inventories of existing homes for sale have improved from a year ago but remain historically low, due largely to the so-called ‘lock-in effect.’ Since the beginning of October, mortgage rates have rebounded after bottoming out around 6.1% and are now inching closer to a new psychological barrier, the 7% threshold. The higher mortgage rate environment is not only hurting affordability, but it’s also exacerbating the lock-in effect by further reducing homeowners’ incentive to move.”

Palim continued: “The housing market in 2025 faces a difficult balancing act, with a notable decline in mortgage rates likely needed to help unwind the lock-in effect and thaw the supply of existing homes for sale. However, we believe such a decline would likely jumpstart demand from potential first-time homebuyers currently waiting to purchase, which could lead demand to outpace any improvement in supply, further exacerbating already-high home prices and purchase affordability.”

Methodology: The FNM-HPI is produced by aggregating county-level data to create both seasonally adjusted and non-seasonally adjusted national indices that are representative of the whole country and designed to serve as indicators of general single-family home price trends. The FNM-HPI is publicly available at the national level as a quarterly series with a start date of Q1 1975 and extending to the most recent quarter, Q4 2024. Fannie Mae publishes the FNM-HPI approximately mid-month during the first month of each new quarter.

Source: Fannie Mae

Fannie Mae: Affordability, Lock-in Remain in 2025

Leave a comment December 18, 2024 LaurelMurphyRE

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December 17, 2024

Economists forecast rates to decline modestly, and new home sales to grow in 2025. The Sun Belt, including Florida, will see strong housing activity.

WASHINGTON — Affordability and the so-called “lock-in effect” are expected to keep housing activity subdued in 2025, with existing home sales forecast to move only slightly upward from recent multi-decade lows, according to the December 2024 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group. The broader economy is expected to remain on solid footing and expand at an above-trend pace through 2026 as it navigates elevated core inflationary pressures and heightened policy uncertainty.

As part of its latest outlook, Fannie Mae’s economists shared five predictions for the housing market in 2025. They expect:

Average mortgage rates will decline modestly but remain above 6%, with likely bouts of volatility.
Existing homes sales will remain near 30-year lows, but location matters.
New home sales will remain a bright spot in the housing market (where they can be built).
National home price growth will decelerate.
Multifamily housing will remain in a holding pattern.

“From an affordability perspective, we think 2025 will look a lot like 2024, with mortgage rates above 6%, home price growth easing from recent highs but staying positive, and supply remaining below pre-pandemic levels,” said Mark Palim, Fannie Mae senior vice president and chief economist. “Still, heightened mortgage rate volatility may present opportunities for would-be homebuyers to take advantage of temporary lows, and we may see stretches where housing activity is boosted by lower rates – but, on average, we expect mortgage rates to remain elevated and a hindrance to activity. While we think conditions on a national basis will remain challenging, we’re seeing meaningful regional differences in market conditions, and the homebuying experience – as the adage goes – will continue to be a local one.

For example, in the Sun Belt, where construction has been robust for a few years and homebuilders are targeting first-time homebuyers with some offerings, we expect to see relatively strong housing activity. By comparison, we’re not expecting to see the same in the supply-constrained Northeast. And while we foresee the current affordability crunch hampering activity through our forecast horizon, we expect nominal wage growth will outpace home price growth for the first time in more than a decade in 2025, slowly but surely providing some much-needed relief to potential homebuyers.”

Weekly Housing Trends

Leave a comment November 21, 2024 LaurelMurphyRE

The U.S. presidential election and FOMC meeting dominated headlines last week, while the housing market hummed along, continuing recent trends. Home prices, inventory levels, market pace, and new listing activity all saw similar annual trends as the previous week. Mortgage rates climbed to their highest level since April in the week, and are expected to continue higher as a result of postelection Treasury yields. The Fed meeting resulted in the anticipated 25 basis-point rate cut as the FOMC continues to make decisions based on incoming economic data. The coming months could bring more mortgage rate volatility as reactions to the election and its implications move through the market.

Over the past year, the housing market has remained largely unaffordable to many would-be buyers. However, veteran borrowers can take advantage of the many benefits of a VA mortgage loan. Compared with the typical conforming mortgage loan, VA loans have more flexible credit criteria and lower mortgage rates; they even allow eligible borrowers to put down a lower down payment.

Key findings
The median listing price fell by 0.2% year over year

The median listing price fell for the third week in a row. Home prices have hovered within a few percentage points of the previous year’s level since spring 2023. It is the 24th week in a row that the median listing price in the U.S. is less than or equal to what it was in the corresponding week of 2023. However, when a change in the mix of inventory toward smaller homes is accounted for, the median listing price per square foot increased by 1.7% this week compared with the same time last year.

New listings—a measure of sellers putting homes up for sale—climbed 1.7% this week compared with one year ago
The number of new listings on the market picked up compared with the same week last year. The recent upward trajectory of mortgage rates could largely discourage sellers from listing their homes as roughly 84% of outstanding mortgages have a rate of 6% or lower. Despite still-high rates, a recent read on home seller and buyer sentiment showed relatively rosy expectations. About 64% of sellers consider it a good time to sell, and just 22% of respondents expect mortgage rates to climb. Only time will tell whether the market will reflect this optimism.

Active inventory increased, with for-sale homes 26.1% above year-ago levels
For the 53rd consecutive week, the number of listings for sale has grown year over year. This week’s growth was lower than last week’s, the seventh week of slowing growth, and the lowest annual change since late March. Slowing listing activity and stifled buyer demand have resulted in slowing inventory growth. Downward progress in mortgage rates could stoke buyer demand, which could eat into the recent buildup in active inventory.

Homes spent 9 days more on the market compared with this time last year
The annual gap in time on the market increased to nine days this week, the biggest gap since July 2023. Generally, buyers have been holding off, waiting for more affordable housing conditions. However, with more options available, still-keen buyers might be feeling ready to act before winter.

Mortgage Rates Ease, Ending 6-Week Climb

Leave a comment November 15, 2024 LaurelMurphyRE

stacks of coins and a small house with a downward pointing arrow above. A hand is holding the arrow

November 14, 2024

Mortgage Rates Ease, Ending 6-Week Climb

By Alex Veiga

Rates on 30-year mortgages slipped to 6.78% from 6.79% last week. Borrowing costs on 15-year fixed-rate mortgages fell to 5.99% from 6%.

NEW YORK — The average rate on a 30-year mortgage in the U.S. edged lower this week, ending a six-week climb.

The rate slipped to 6.78% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the rate averaged 7.4%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also eased this week. The average rate slipped to 5.99% from 6% last week. A year ago, it averaged 6.76%, Freddie Mac said.

Mortgage rates are influenced by several factors, including the yield on U.S. 10-year Treasury bonds, which lenders use as a guide to price home loans. Bond yields have been rising in recent weeks following encouraging reports on inflation and the economy.

Last week, bond yields surged on expectations that President-elect Donald Trump’s plans to lower tax rates, increase tariffs and reduce regulation could ultimately lead to higher U.S. government debt and inflation, along with faster economic growth.

The yield on the 10-year Treasury was at 4.41% at midday Thursday. It was at 3.62% as recently as mid-September.

Despite its recent upward move, the average rate on a 30-year mortgage is still down from 7.22% in May, its peak so far this year. In late September, the average rate got as low as 6.08% — its lowest level in two years.

Economists predict that mortgage rates will remain volatile this year, but generally forecast them to hover around 6% in 2025.

Elevated mortgage rates and high prices have helped keep the U.S. housing market in a sales slump going back to 2022.

Highlights From the Profile of Home Buyers and Sellers

Leave a comment November 6, 2024 LaurelMurphyRE

For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers.

Characteristics of Home Buyers

First-time buyers decreased to 24% of the market share (32% last year). This year now marks the lowest share since NAR began collecting the data in 1981.
The median first-time buyer age increased to 38 years old this year from 35 last year, while the typical repeat buyer age also increased to 61 years from 58 last year.
62% of recent buyers were married couples, 20% were single females, 8% were single males, and 6% were unmarried couples.
73% of recent buyers did not have a child under the age of 18 in their home. This is the highest share recorded.
17% of home buyers purchased a multigenerational home, for cost savings (36%), to take care of aging parents (25%), because of children or relatives over the age of 18 moving back home (21%, and children over the age of 18 who never left home (20%).
83% of buyers were White/Caucasian, 7% were Black/African-American, 6% were Hispanic/Latino, 4% were Asian/Pacific Islander, and 3% identified as some other race.
88% of recent home buyers identified as heterosexual, 3% as gay or lesbian, 2% as bisexual, 1% prefer to self-describe, and 6% preferred not to answer.
16% of recent home buyers were veterans and 2% were active-duty service members.
At 22%, the primary reason for purchasing a home was the desire to own a home of their own. For first-time buyers, this number jumps to 64%.

Line graph: Median Age of Home Buyers, 1981 to 2024

Bar graph: First-time Home Buyers, 1981 to 2024

Characteristics of Homes Purchased

15% of buyers purchased a new home, and 85% of buyers purchased a previously-owned home.
Recent buyers who purchased new homes were most often looking to avoid renovations and problems with plumbing or electricity at 42%. Buyers who purchased previously-owned homes considered them a better value at 31%.
Detached single-family homes continued to be the most common home type for recent buyers at 75%, followed by townhouses or row houses at 7%.
Senior-related housing remained at 19% of buyers over the age of 60 this year. 58% purchased a detached single-family home, and 52% bought in a suburb or subdivision.
The median distance between the home that recent buyers purchased and the home they moved from was 20 miles. This is down from the 2022 report of 50 miles but remains elevated from the distance of 15 miles seen from 2018 to 2021.
Quality of the neighborhood (59%), convenience to friends and family (45%) and overall home affordability (36%) remained the most important factors to recent home buyers when choosing a neighborhood.
Buyers typically purchased a home that was built in 1994. This is a rebound after the last two years, when buyers typically purchased a home built in the 1980s.
Overall, buyers expected to live in their homes for a median of 15 years, while 25% said that they were never moving.

The Home Search Process

In 2024, the home buying process for many started online, with 43% of buyers indicating that their first step was to look for properties on the internet. Additionally, 21% of buyers reached out to a real estate agent as their initial action.
Real estate agents played a crucial role, with 86% of all buyers utilizing their services—the highest of all information sources used.
Buyers spent a median of 10 weeks searching for a home in 2024, typically viewing seven homes, and two of those homes were viewed online only.
All home buyers used the internet to search for a home. The most valuable content on websites were photos (41%), detailed information property information (39%), and floor plans (31%).
59% of recent buyers reported being very satisfied, and 33% expressed being somewhat satisfied with their recent home buying process.

Home Buying and Real Estate Professionals

88% of home purchases were made through a real estate agent or broker, demonstrating the continued importance of agents in the home buying process. 5% of buyers purchased directly from a builder or builder’s agent, and 5% purchased directly from the previous owner.
Home buyers primarily sought help from an agent or broker in finding the right home to purchase (49%) and negotiating the terms of the sale (14%).
40% of buyers found their agent through a friend, neighbor, or relative. This trend was especially pronounced among first-time buyers, where 51% relied on referrals from their personal network.
Most buyers only interviewed one agent before making a decision, with 77% of repeat buyers.
88% of home buyers would use their agent again or recommend to others.

Bar graph: Would Buyer Use Real Estate Agent Again or Recommend to Others

Financing the Home Purchase

74% of all buyers financed their home purchase, a decrease from 80% last year. First-time buyers were more likely to finance their purchase at 91%, while only 69% of repeat buyers financed.
26% of home buyers paid cash for their home, an all-time high for all-cash buyers.
49% of recent home buyers used their savings to finance their home purchase, down from 54% last year. 25% of first-time buyers used a gift or loan from a relative or friend for their downpayment, though savings was most common at 69%.
52% of first-time buyers utilized a conventional loan to finance their home, 29% used an FHA loan, and 9% used a VA loan. The share of first-time buyers using an FHA loan has declined from 55% in 2009 to 29% in 2024.
Buyers continue to see purchasing a home as a good financial investment. 79% reported believing that a home purchase is a good investment, and among those buyers, 39% said it was better than owning stocks.

Home Sellers and Their Selling Experience

The typical age of home seller was 63 this year, the highest ever recorded.”
For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (23%), followed by home was too small (12%), home was too large (11%), and the neighborhood was becoming less desirable (10%).
The median number of years a seller owned their home was 10 years, the same as last year. That number was higher than reported from 2000 to 2008, when the tenure in the home was only six years.
36% of sellers traded up and purchased a home that was larger in size than what they previously owned, 30% bought a home that was similar in size, and 32% traded down and purchased a home that was smaller in size.
For recently sold homes, the final sales price was a median of 100% of the final listing price. This continues to be the highest recorded median since 2002.
For all sellers, time on the market this year was a median of three weeks, one week longer than last year.
68% of sellers were very satisfied with the selling process. 22% were somewhat satisfied.

Home Selling and Real Estate Professionals

66% of recent sellers used an agent that was referred to them or used an agent they had worked with in the past to buy or sell a home.
81% of recent sellers contacted only one agent before finding the right agent they worked with to sell their home.
50% of sellers used the same real estate agent to represent them when purchasing or selling their home. That number jumps to 71% for sellers within 10 miles of their home purchase.
Sellers place a high priority on the following three tasks: help market the home to potential buyers (22%), price the home competitively (20%), and sell the home within a specific timeframe (18%).
The real estate agent’s reputation remains the most important factor when sellers select an agent to sell their home (35%), and an agent’s trustworthiness and honesty (21%).
Most sellers—87%—said that they would definitely (72%) or probably (15%) recommend their agent for future services.

For-Sale-by-Owner (FSBO) Sellers

90% of sellers sold with the assistance of a real estate agent, up from 89% last year, and only 6% were FSBO sales. The share of FSBO sellers was a historical low.
For 38% of all FSBO sellers, the main reason to sell via FSBO was because they sold to a relative, friend, or neighbor.
Getting the price right (17%), selling within the length of time planned (13%), and understanding and performing the paperwork (10%) were the most difficult steps for FSBO sellers.
FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $380,000 in 2023 (up from 310,000 in 2022), still far lower than the median selling price of all homes, which was $435,000.

Why Now’s Not the Time To Take Your House Off the Market

Leave a comment October 15, 2024 LaurelMurphyRE

Has your house been sitting on the market longer than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what 2025 brings. But what you may not realize is, the decision to hold off could actually cost you. Here’s a look at why staying the course could be the smarter move.

Other Sellers Are Pulling Back. Should You Hold Off Too?

According to recent data from Altos Research, the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t unusual for this time of the year.

In the housing market, there are seasonal ebbs and flows. Inventory levels typically start to drop off a bit headed into the fall season as some sellers delay their plans until the new year. As Mike Simonsen, Founder of Altos Research, 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 that a smart move? While it might seem like a good idea to pull your listing too, here’s why that approach may not pay off this year.

Today’s Buyers Are Serious and Ready To Act

The biggest reason to stick with your plan to sell now is that the buyers who are looking at this time of year are serious about making a purchase.

They’ve been sitting on the sidelines for a while waiting for affordability to improve. And now that mortgage rates are down from their recent peak, they’re ready to make their move. Mortgage applications are rising – and that’s a leading indicator that buyers are preparing to jump back in. And since they’ve already put their needs on the back burner for so long, they’re even more eager than buyers usually are at this time of year.

These aren’t window shoppers. They’re highly motivated buyers who want to move fast – and that’s the kind of buyer you want to work with. As Freddie Mac says:

“During the fall months, serious homebuyers are eager to settle in to a new home before the holiday season ramps up and the winter weather begins.”

By keeping your home on the market, you increase the chances of attracting people who are truly ready to make a purchase.

Bottom Line

While some sellers are choosing to take their homes off the market, this really isn’t the best move. With serious buyers eager to purchase, this is a great time to sell your house. Let’s connect to make sure we’ve got a strategy in place to make it happen.