If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn’t as frenzied as it was during the ‘unicorn’ years when buyer demand was through the roof, mortgage rates were historically low, and home values rose like we’ve never seen before. But that doesn’t mean the market is at a standstill.
Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now. Here’s the data to prove it.
Sellers Are Still Seeing Multiple Offers
According to the latest data from the National Association of Realtors (NAR), sellers are receiving an average of 2.5 offers on their houses.
It’s true that’s fewer than the number of offers sellers were receiving during the ‘unicorn’ years. But compared to last year, the number is up slightly. And it’s higher than it was in the more normal, pre-‘unicorn’ years in the housing market too.
Homes Priced Right Are Selling Fast
And it’s not just that sellers are still typically getting multiple offers more than the norm, they’re also seeing their homes sell fast. That’s a direct result of strong buyer demand. According to Zillow: “. . . low inventory levels are spurring surprisingly strong competition . . . demand has remained resilient, and attractive, appropriately priced listings are moving quickly.”
You haven’t missed your chance to sell at a time when sellers are receiving multiple offers, and homes are selling fast. When you’re ready to sell your house, DM me to get the ball rolling.
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