Why The Best Time In History to Put A Home On The Market Won’t Last


Here's a shocking number:

For every listing in America right now, on average, those sellers, when the listing goes live, are getting 4.8 offers. Let's call it five offers per listing.

It's truly one of the best times in history to put a home on the market, but will this be changing soon?

The answer is yes.

What will change this dynamic is a buyer's ability to afford the house. And what's impacting that right now is interest rates.

Interest rates are rising rapidly, approaching 5% in a lot of markets. And with that, it's pricing a lot of buyers out of the market. And if they're not priced out of the market, it's for them to readjust what they can afford downward. They can't afford that high price because the interest rate won't allow it.

So when we're looking at working with sellers, we need to tell them there's a five alarm fire going on in the real estate industry right now.

And it's interest rates. They're rising so rapidly that they're gonna put a crimp on seller's ability to receive multiple offers and receive over full price offers.

So here's my thoughts:

If you're going to sell, you're planning to sell in the next six months to two years, get your house on the market as soon as you can. Because rates are likely to go higher and it's gonna put more pricing pressure into the market.

Right now, we know that the market is super strong. We're getting four to five offers per listing. We know prices are still rising. Appraisers appraising properties at the value that they're selling for in most cases. And so this is just a great time to be on the market.

But we don't have a crystal ball for six months from now a year from now. But every indication shows that interest rates will be higher and a lot of buyers will be priced out of the market.

That's the messaging we gotta get out there in front of with clients, with buyers, with sellers and start educating them.

On the buyer side, we wanna tell people, "Hey, you know what? If you're a buyer you wanna lock on these rates, these 30 year rates now before rates go even higher."

So this is the messaging we need to be putting in front of people.

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