{"id":7834,"date":"2022-08-23T10:00:35","date_gmt":"2022-08-23T10:00:35","guid":{"rendered":"https:\/\/thezakariagroup.com\/what-sellers-need-to-know-in-todays-housing-market\/"},"modified":"2022-08-23T10:00:35","modified_gmt":"2022-08-23T10:00:35","slug":"what-sellers-need-to-know-in-todays-housing-market","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/what-sellers-need-to-know-in-todays-housing-market\/","title":{"rendered":"What Sellers Need To Know in Today\u2019s Housing Market"},"content":{"rendered":"
\n

\"What<\/p>\n

If you\u2019re thinking about selling your house<\/a>, you may have heard about the housing market slowing down in recent months. While it\u2019s still a sellers\u2019 market, the peak frenzy the market saw over the past two years has cooled some. If you\u2019re asking yourself if you\u2019ve missed your chance to sell your house and make a move, the good news is you haven\u2019t \u2013 motivated buyers are still out there. But you do need to price your house right for today\u2019s market. Here\u2019s why.<\/span><\/p>\n

As Lawrence Yun, Chief Economist at the\u00a0National Association of Realtors<\/em>\u00a0(NAR), says<\/a>:<\/p>\n

\n

\u201c<\/em>Homes priced right are selling very quickly<\/em><\/strong>, but homes priced too high are deterring prospective buyers.\u201d<\/em><\/p>\n<\/blockquote>\n

It\u2019s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars<\/a> and less competition among buyers (see visual below)<\/em>:<\/p>\n

\"What<\/a><\/p>\n

But don\u2019t forget \u2013 that\u2019s compared to the severely overheated market we saw over the past two years. According to the latest Confidence Index<\/em><\/a> from NAR:<\/p>\n

\n

\u201c. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.\u201d<\/em><\/p>\n<\/blockquote>\n

While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they\u2019re buying homes that are priced right. In fact, the Confidence Index<\/em> also notes the average home is selling in just 14 days.<\/p>\n

If you\u2019re aiming to sell your house, be sure you\u2019re working with your agent to price it for today\u2019s housing market. As buyer demand softens, it\u2019s important to understand this isn\u2019t the same market as last year. It\u2019s not even the same market as just a few months ago. But it is still a sellers\u2019 market<\/a>.<\/p>\n

If you\u2019re ready to sell your house, seek the advice of a real estate professional<\/a>. In some cases, you\u2019ll need to adjust your expectations accordingly to meet the market where it is today. Selma Hepp, Interim Lead, Deputy Chief Economist at CoreLogic<\/em>, explains<\/a> what\u2019s happening and what it means when you sell:<\/p>\n

\n

\u201cSigns of a broader slowdown in the housing market are evident<\/strong>, . . . This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates. . . . Nevertheless, buyers still remain interested, which is keeping the market competitive \u2014 particularly for attractive homes that are properly priced<\/strong>.\u201d<\/em><\/p>\n<\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

While the housing market has cooled from its overheated frenzy, it\u2019s still a sellers\u2019 market. Let\u2019s connect so you understand what\u2019s happening with buyer demand and home prices in our local area as you get ready to enter the market.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it\u2019s still a sellers\u2019 market, the peak frenzy the market saw over the past two years has cooled some. If you\u2019re asking yourself if you\u2019ve missed your chance to sell your house and make […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[100,102,108],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nWhat Sellers Need To Know in Today\u2019s Housing Market - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/what-sellers-need-to-know-in-todays-housing-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Sellers Need To Know in Today\u2019s Housing Market - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"If you\u2019re thinking about selling your house, you may have heard about the housing market slowing down in recent months. 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