Time to List Your Home Clock Sell House for Sale 3d Illustration

Is this a good time to list my home?

I am no soothsayer, but I have been in the real estate business for decades. When mortgage rates go up significantly, home values often go in the opposite direction – down.

When mortgage rates increase by even one point, your buying “power” goes down by nearly ten percent. If you’re buying a home priced at $500,000 and interest rates go up by one point, you can only afford a $450,000 house. The result is less purchasing power.

With lower rates, your higher asking price (was) within reach of many more buyers, but your “buyer pool” shrinks each time the rates go up. The only way to win back those same buyers is to lower your asking price. The compound rising rates and the higher cost of living that we are currently experiencing could mean we are heading into a trajectory of homes having to be priced lower.

To reiterate, I am not saying we will experience a “crash” or a “bubble bursting.” It’s unclear how the jump in mortgage rates will affect the price of homes over the long term. Still, I am just saying that if you’re considering selling, NOW might be a good time.


According to Lawrence Yun, Chief Economist of the National Association of Realtors, “Some (buyers) want to buy sooner before the rates rise further.” I agree with him on this.

There is no wrong time to list your home, only better times. I think now is that “better” time. I feel buyers will be heavy (lots of home sales) during the first quarter of this year and then start thinning out as mortgage rates rise towards the later part of the year. Plus, don’t you want a lower rate too?

If you are curious about what your Palm Coast home is worth in today’s real estate market, reach out to me for a free home evaluation. I promise, there’s no cost or obligation – just information.

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