As we look toward the winter months, are you considering selling your home? If your current home’s location or size no longer meets your needs, finding a new place that better suits your lifestyle might be a priority. But with the current housing market, is it a good time to sell, or should you wait?

Understanding Today’s Market: Seller’s vs. Buyer’s Market
Let’s take a closer look at the market. Is it a seller’s market, or is it a buyer’s market?

A seller’s market occurs when there are fewer homes available than there are buyers actively searching. It’s simple supply and demand: with limited inventory, sellers often have the advantage. In a buyer’s market, however, there’s a healthier supply of homes, giving buyers more control and often leading to incentives from sellers, like closing costs or home warranties.

If you’re planning to sell and buy at the same time, remember that you’re unlikely to get the best of both worlds. Selling high and buying low is rare in a single transaction. In a buyer’s market, sellers may offer more incentives to attract buyers. In a seller’s market, buyers may offer above asking price, skip inspections, or make other concessions to stand out.

Interest Rates: A Reality Check
Interest rates are another key factor to consider. It’s true we’ve been spoiled by low rates in recent years. When I first got into real estate 22 years ago, rates were around 8% to 9%. In the 1980s, they were even higher, often exceeding 15%! I remember asking a fellow agent about the rate when she and her husband bought their home—she said 16%! Of course, they refinanced when rates eventually dropped, just as you can do now. If today’s rates feel high, remember that refinancing can be an option down the road.

Whether it’s a seller’s market or a buyer’s market, and whether rates are high or low, the choice to buy or rent remains the same. If you’re renting, you’re paying your landlord’s mortgage; if you own, you’re building your own equity.

Taking Action: Get a Head Start
If you’re ready to sell, getting a head start could be a smart move. Many homeowners hold off on listing their properties toward the end of the year due to the holidays, which means less competition and the chance to attract serious buyers who are actively looking now. Your home could be just what they need.

When you feel the time is right, look for signs and start the process with a real estate professional. Exploring your options can provide peace of mind, whether you decide to move forward or wait.

Wishing you a Merry Christmas and a Happy New Year! And remember, it’s currently a seller’s market—but by spring, who knows?

Until next time,
Jeannie