I have a lot of clients sitting on the sideline currently (both buyers and sellers) and the most common question they ask me…
Is NOW a good time to buy/sell a home?
My initial response is always the same, the best time to buy/sell a home is when it makes sense for your life/family/finances.
Of course, what they are really asking me is How Do I Time This Market?
I’m still waiting on my crystal ball 🔮 to arrive, but until then, we have some pretty great data to help guide our decision making.
This chart is where I start 👇🏻
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The Key Factor: Mortgage Rates and Demand
There’s a direct correlation between mortgage rates and homebuyer demand. Based on historical data, here’s what we know:
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When mortgage rates drop below 6%, over 50% of potential buyers become willing to take out a mortgage.
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More buyers in the market mean more competition and less negotiating power for buyers.
Finding the Right Balance
If you’re thinking about buying a home this year, acting before rates drop below 6% could give you the best of both worlds—strong negotiating power on price, credits, and terms while still securing a manageable payment.
If you’re thinking about selling, waiting until some of the current inventory is absorbed might put you in a better position when more buyers enter the market.
Let’s Make a Plan
Ultimately, the right timing depends on your unique situation and goals. My priority is to be your trusted real estate expert and help you navigate the market strategically. If you’re considering buying or selling a home this year, let’s connect and create a plan that works for you!
