Thursday, October 24, 2024 / by Dick Keenan
Why You Should Keep Your House on the Market Right Now
If your house has been on the market longer than you’d hoped, it’s natural to feel frustrated. You might even be considering pulling your listing and waiting to see what 2025 brings. But what you may not realize is that pausing now could end up costing you. Here’s why staying on course might be the better choice.
Other Sellers Are Pulling Back – Should You?
Recent data from Altos Research shows that more sellers are choosing to take their homes off the market. This trend isn't unusual for this time of year as inventory typically dips in the fall. Many sellers often delay their plans until the new year, which 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 In fact, for every two sales, there is another listing withdrawn from the market.”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 this really the best move? While it might seem like a good idea to join those sellers, here’s why keeping your home listed could actually work in your favor.
Serious Buyers Are Ready To Act Now
One of the biggest reasons to keep your home on the market is that buyers searching at this time of year are serious about making a move. After waiting on the sidelines, they're ready to act now that mortgage rates have come down from their peak. Mortgage applications are on the rise, which is a key sign that buyers are getting ready to jump back into the market.
These aren’t casual buyers—they’re highly motivated and eager to close a deal. As Freddie Mac puts it:
“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 house listed, you’re more likely to attract these motivated buyers who want to move quickly.
Bottom Line
While some sellers are taking their homes off the market, this may not be the best strategy. With serious buyers eager to make a purchase, now is actually a great time to sell. Let’s connect to make sure we’ve got the right plan in place to help you sell your home successfully.