While the current mortgage rates may have you rethinking putting your home on the market, the data tells a different story. According to a recent article by Keeping Current Matters and statistics from Showing Time, the real estate industry's leading showing management and market stats technology provider, people are buying homes and in even greater numbers than previous years.

Looking at the graph above, June 2023 shows a higher number of buyer traffic than 2017-2019. If you’re wondering how this could be the case, we believe it's because buyers are getting used to higher mortgage rates and accepting them as the new reality. As Danielle Hale, Chief Economist, Realtor.com, explains:

“Interest rate hikes continue to further cut into buyers’ purchasing power, although they appear to have adapted to the higher mortgage rate environment . . .”

Overall, it’s quite simple. Buyers will always need to buy, and those who can afford to move at today’s rates are going to do so, and real estate is never a bad investment.

The Key Takeaway for You

Although things have slowed down compared to the last couple of years, the market is not at a standstill or nearing any kind of crash. Instead, buyer traffic is strong - people will always need to move.

Bottom Line

Don’t wait to put your house on the market because you're worried you won't find a buyer. Quite the opposite. Buyers are more active than usual. Connect with our team so we can prepare your house to sell and give it the best first impression possible for those ready and able to buy.

Considering buying a home in the central Iowa area? Contact us today!