Will My House Still Sell in Today’s Market?

Posted by Bend Premier Real Estate on Monday, September 19th, 2022 at 11:38am.

Bend Oregon real estate

 If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years.

Buyer Demand Then and Now

During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):

Will My House Still Sell in Today’s Market? | MyKCM

The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today's demand stands, let's look at the July data for the past six years (see graph below):

Will My House Still Sell in Today’s Market? | MyKCM

This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels – and those pre-pandemic years were great years for the housing market. That goes to show there’s still demand if you sell your house today.

What That Means for You When You Sell

The key to selling in a changing market is understanding where the housing market is now. It’s not the same market we had last year or even earlier this year, but that doesn’t mean the opportunity to sell has passed.

While things have cooled a bit, it’s still a sellers’ market. If you work with a trusted local expert to price your house at the current market valuethe demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.

Bottom Line

Buyer demand hasn’t disappeared, it’s just moderated this year. If you’re ready to sell your house today, connect with your Bend Premier Real Estate broker so you have expert insights on how the Bend real estate market has shifted and how to plan accordingly for your sale.

3 Responses to "Will My House Still Sell in Today’s Market?"

Checklist to Sell Fall Homes - Salem Local News wrote: [...]are some highlights

It all comes down to selling your houseYou want your property to be attractive to buyers. A real estate professional can help you decide[...]

Posted on Friday, September 23rd, 2022 at 2:33pm.

Experts predict what will happen to home prices next year - Salem Local News wrote: [...]continues to be a problem in this country. We still don’t have enough homes On the market for number of people They want to purchase them. To further that point, we’re still in a sellers’ market Home[...]

Posted on Friday, September 23rd, 2022 at 7:18pm.

Will My House Still Sell in Today’s Market? - Salem Local News wrote: [...]Source link [...]

Posted on Saturday, September 24th, 2022 at 10:12am.

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