Suddenly, the Housing Market Is Not All About the Sellers

Selling a home these days isn’t as effortless as a year ago, when a seller could choose among competing buyers.

“Overall, I’d say the buying/selling experience right now is comparable to the summer of 2019,” Dana Bull, a Realtor in the Boston area, said in an email. Today, “there’s still low inventory and it’s a very active market, but not as cutthroat and without underlying tones of desperation.”

Last year’s home-selling advice consisted largely of tips for choosing the best offer. But those recommendations have grown stale: Homes are receiving fewer offers amid slowing sales.

Sellers need fresh guidance. Buyers are taking more time, and they’re getting picky. Here are home-selling suggestions from real estate agents.

Higher rates = fewer buyers and fewer offers

It’s still a seller’s market, in which would-be buyers outnumber sellers, but it isn’t as imbalanced as it used to be, because mortgage rates skyrocketed this year and pushed homes past the point of affordability

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This article was written by Holden Lewis and originally published on www.nerdwallet.com