Has your house been sitting on the market longer than expected? If so, you are bound to be frustrated by now. Maybe you are 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 is unusual for this time of 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. But is that a smart move? While it may 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. 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 buyers are preparing to jump back in. These are motivated buyers who want to move fast and that’s the kind of buyer you want to work with.
By keeping your home on the market, you increase the chances of attracting people who are truly ready to make a purchase!!