If you’ve been waiting for the perfect time to sell your home, this may be the sign you’ve been looking for. More and more buyers are stepping back into the market, ready to make their move.
Over the past few years, many potential homebuyers put their plans on hold due to rising mortgage rates and affordability concerns. But things are shifting. Homebuyers are adjusting to the “new normal” of the housing market, and mortgage rate forecasts suggest some stability ahead.
So, what does this mean for you as a seller? More buyers are actively searching for homes, and that’s great news if you’re considering listing your property. Let’s take a closer look at the data:
- Mortgage Applications Are Increasing: According to the Mortgage Bankers Association (MBA), mortgage applications have risen by 37% since the start of the year. This jump is a strong indicator that serious buyers are getting pre-approved and ready to purchase.
- Buyer Demand is Growing: According to the Homebuyer Demand Index, there is a 3% increase in demand since late January. While it may not be a dramatic spike, it signals that momentum is building.
- More Home Showings Are Happening: Data from ShowingTime reveals that home showings have increased by 13% since the beginning of the year. This means more buyers are actively touring homes – exactly what you want to see if you’re planning to sell. More interest could lead to more offers.
And this is just the beginning. Spring is the busiest season in real estate, with more people buying and selling homes than at any other time of year. If you’ve been on the fence about listing your home, now is a great opportunity to take action.
Bottom Line
As buyers return to the market, you have the chance to do the same. Increased buyer activity means more opportunities to sell your home successfully. To make the most of this moment, connect with a local real estate agent and position your home to attract motivated buyers.
At TEG Federal Credit Union, we’re here to help you navigate your home-buying and selling journey with confidence. Whether you need financing advice or insights into the market, we’ve got you covered. Let’s make your next move a successful one! Connect with one of our Mortgage Officers to discover the best option for you and your future.
