As we move into fall, it’s common to see a slowdown in the housing market, with fewer homes being listed. However, this year, the trend has flipped. Thanks to a recent dip in mortgage rates, more homeowners decided to list their homes, creating an unexpected uptick in new listings. Whether you're a buyer or a seller, understanding how this shift can benefit you is key to making the most of today’s market.

Why More Homes Are Hitting the Market

According to Realtor.com, the number of homes listed in September rose by 11.6% compared to last year. Typically, as summer ends, we see fewer listings, but this year, the dip in mortgage rates encouraged more homeowners to sell. Ralph McLaughlin, a Senior Economist at Realtor.com, notes that this sharp increase was “largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”

This is great news for buyers, as it means more fresh options are available, rather than homes that have been sitting unsold for months.

What This Means for Buyers

With more homes hitting the market, buyers have a unique opportunity to find their perfect match. Whether you're looking for your first home, upgrading to a larger space, or downsizing, now is a great time to explore what's available. But keep in mind that this influx of new listings might not last forever. Mortgage rates have been volatile lately, and future rate hikes could limit the number of new homes coming to market.

Buyer Tip: Stay on top of fresh listings and work with an experienced agent who can guide you through this dynamic market. The homes you see today might be gone tomorrow!

What This Means for Sellers

If you're considering selling, now might be the perfect moment. More homes on the market mean more competition, but it also means more buyers are out there looking. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), points out, “home buyers are in a much-improved position to find the right home and at more favorable prices.” This increase in inventory benefits both buyers and sellers.

Seller Tip: Pricing your home right and presenting it well are more important than ever. Work with a skilled agent who can help you stand out in this competitive market.

Why You Should Act Now

Whether you’re buying or selling, one thing is clear: this unexpected market shift won’t last forever. Mortgage rates are still driving homeowner decisions, and any future rate hikes could slow down this rise in listings. That’s why acting now is key. Buyers have more choices, and sellers have more motivated buyers than usual for this time of year.

Bottom Line:

As we head deeper into the fall, it’s important to stay ahead of the curve. If you’re ready to explore your options, whether buying or selling, give me a call today. Let’s make sure you’re in the best position to succeed in this ever-changing real estate landscape.