If your selling strategy still assumes you’ll get multiple offers over asking, it’s officially time for a reset. That frenzied seller’s market is behind us. And here are the numbers to prove it. From Frenzy to “Normal”Right now, about 50% of homes on the market are selling for less than their asking price, according to the latest data from Cotality.But that isn’t necessarily bad news, even if it feels like it. Here’s why. The wild run-up over the last few years was never going to be sustainable. The housing market … [Read more...]
What Mortgage Delinquencies Tell Us About the Future of Foreclosures
You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know. According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000.So, even with the increase lately, we’re talking about numbers that are dramatically lower. But what does the future hold? Is a wave coming? The short answer is, no.Here’s why. Experts in the … [Read more...]
Thinking About Renting Your House Instead of Selling? Read This First.
If your house is on the market but you haven’t gotten any offers you’re comfortable with, you may be wondering: what do I do if it doesn’t sell? And for a growing number of homeowners, that’s turning into a new dilemma: should I just rent it instead?There’s a term for this in the industry, and it’s called an accidental landlord. Here’s how Yahoo Finance defines it:“These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their … [Read more...]
History Shows the Housing Market Always Recovers
Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market.And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s … [Read more...]
More Contracts Are Falling Through. Here’s How To Get Ahead.
When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you.This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an … [Read more...]
What You Need To Know About Concessions
Some HighlightsNow that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal.That's why almost half of homeowners are making some type of concession. This can include covering closing costs, paying for repairs, or dropping the price.Not sure which concessions to offer? Connect with a local agent so you know what’s working for sellers in your market. … [Read more...]
Online Home-Buying Search Terms Recently Hit 2-Year High
Believe it or not, there are clear signs buyer interest is heating up again.Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems. Buyers Are Looking, and Search Trends Prove ItOne of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year.The graph below shows an index of two … [Read more...]
Why Selling Without an Agent Can Cost You More Than You Think
Cutting out the agent might seem like a smart way to save when you sell your house. But here’s the hard truth.Last year, homes that sold with an agent went for almost 15% more than those that sold without one.That gap is pretty hard to ignore. And with more homes on the market to compete with right now, selling on your own is a mistake that’s going to cost you.This Isn’t the Market for DIY SellingA few years ago, you might’ve gotten away with a “For Sale By Owner” (FSBO) sign in your yard, navigating the process on … [Read more...]
The 3 Things You Risk by Pricing Too High
When selling your house, the price you choose isn’t just a number, it's a strategy. And in today’s market, that strategy needs to be sharp.The number of homes for sale is climbing. And that means buyers have more choices and can be more selective. If your price doesn’t line up with what else is out there, they’ll scroll right past it and go on to the next one.Pricing right from the start is your best move – and a great agent can help make sure you do.Overpricing Comes at a CostAnd more sellers are finding that out … [Read more...]
Home Price Forecasts for the Second Half of 2025
Some HighlightsWith all the headlines circulating recently, you may be wondering what’s next for home prices? Here’s what the expert forecasts say.Home prices are still forecast to rise nationally this year, just at a much slower pace. But price trends are going to vary by area.To have a quick conversation about what's happening in your local market, connect with a real estate agent. … [Read more...]
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