If you've been thinking about selling, you've probably seen headlines making it seem like buyers have disappeared. But the truth is, there's a big difference between a slower market and one that's completely stopped.
Yes, mortgage rates are still higher than most people would like, and homes aren't selling as quickly as they used to. It also seems like every week there's another headline about buyers waiting on the sidelines. But here's the part those headlines often leave out.
Even with everything happening in today's market, buyer demand has stayed surprisingly strong.
In fact, more sellers are putting up the "Pending" sign now than they have over the past two years. Even more impressive, it's happening at a time when the housing market usually starts to slow down.
If you’re thinking about selling, that’s a trend you’ll want to keep an eye on.
Buyers Are More Active Than You Think
One of the best ways to see how strong buyer demand really is is by looking at pending home sales. These are homes that are under contract but haven't closed yet, giving us a real time snapshot of whether buyers are still actively making moves.
According to HousingWire data, more homes are going under contract today than they were at this time over the past two years, showing that buyers are still actively making moves despite today's market conditions.
It may be surprising, but the numbers don't lie. Buyers aren't everywhere, but they're still out there actively purchasing homes. Even if activity slows a little in the coming weeks, we're still seeing stronger demand than we have over the past couple of years. That's great news if you're thinking about selling because it shows buyers are still in the market.
People haven't stopped buying homes. Serious buyers are still out there, and they're still making moves.
Many buyers are moving forward because they've realized they can't put their plans on hold forever. Whether it's a growing family, a new job, retirement, or simply wanting a different home, life doesn't stop just because mortgage rates are higher than we'd like. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
““A late spring buyer rush—even with mortgage rates not budging—is an indication of pent-up housing demand and consumers’ acceptance of above-6% mortgage rates as the new normal.”
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So, if you've been worried that no one's buying, this should give you some peace of mind. Today's buyers aren't just casually browsing open houses. Many have spent months waiting for mortgage rates to improve and have now realized they can't put their plans on hold any longer.
That means they're buying with a clear purpose and a timeline in mind. And that's exactly the kind of motivated buyer every seller wants.
What This Means for Your Sale
Does that mean every home will sell right away? No.
Today's buyers have more choices, and they're willing to wait for the right home at the right price. But sellers who understand the market and price and present their homes well are still seeing great results. The idea that no one is buying right now simply isn't backed up by the data.
The buyers are still out there.
The opportunity is still there.
The key is having the right strategy to make the most of it.
Bottom Line
This year's housing market may be moving more slowly than many of us hoped, but buyer demand is stronger than the headlines would have you believe.
If you're wondering whether there are enough buyers for your home, let's connect. I'll walk you through what's happening in our local market and create a strategy that helps you make the most of the opportunities that are already out there.
