Is Your Home Taking Longer to Sell Than Expected? Here’s Why Sticking It Out May Be Smarter Than Waiting Until 2025
If your house has been on the market longer than anticipated, you’re probably feeling frustrated. Maybe you’re even considering pulling the listing and waiting to see what 2025 brings. However, holding off now might end up costing you. Here’s why staying the course could be a better choice.
Other Sellers Are Withdrawing, But Should You?
Recent data from Altos Research shows that many sellers are taking their listings off the market as we approach the end of the year. This is fairly typical for the season, as inventory often decreases in fall when some sellers decide to wait for the new year. Mike Simonsen, Founder of Altos Research, notes:
"We're seeing a more normal seasonal pattern now with inventory beginning to decline. For every two sales, there is another listing withdrawn from the market."
While it may seem logical to follow suit, pulling your listing could mean missing out on serious buyers.
Buyers in Today’s Market Are Ready to Move
The buyers searching now are serious. Many have been waiting on the sidelines for conditions to improve and are now eager to make their move. With mortgage rates dipping from recent highs, there’s been an increase in mortgage applications—a sign that buyers are preparing to act.
Unlike casual shoppers, these buyers have been holding off, so they’re especially motivated to make a purchase. As Freddie Mac notes:
“During the fall months, serious homebuyers are eager to settle into a new home before the holiday season ramps up and the winter weather begins.”
By keeping your home on the market, you increase the likelihood of attracting these determined buyers.
The Bottom Line
While some sellers are choosing to step back, this isn’t the best move right now. With motivated buyers actively searching, this could be an ideal time to sell. Connect with your agent to develop a strategy that takes advantage of this unique opportunity.