More folks are starting to make moves to purchase a home. If you've been holding off for the perfect moment to relocate, this could be the opportunity you've been waiting for.

Many potential homebuyers have been holding off on their plans for the past few years. Rising mortgage rates and affordability issues made buying a home feel out of reach. However, more people are beginning to step back into the market. They're starting to accept that this might be the new normal, especially since predictions indicate that mortgage rates could be stabilizing. According to the National Association of Realtors (NAR):

““Home buyers seem to be getting over the shock of mortgage rates in the mid- to upper-6% range.”
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— National Association of Realtors (NAR)

That’s great news for your selling plans. While we might not see a sudden influx of buyers all at once, it does indicate that motivated buyers are starting to resume their home searches. Here are some statistics to back that up.

3 Signs Buyers Are Ready to Take Action

1. Increasing Mortgage Applications

The Mortgage Bankers Association (MBA) reports that mortgage applications have increased by 37% since the beginning of the year. This significant rise indicates that more buyers are actively looking to purchase homes. It’s important not to overlook this trend. Serious buyers who are preparing their finances could be excellent candidates for your house.

2. Buyer Interest Is Growing

The Homebuyer Demand Index from Redfin indicates that demand has increased by 3% since late January. While it's not a dramatic rise, it does suggest that momentum is starting to pick up.

3. Increase in Home Showings

ShowingTime reports that home showings have increased by 13% since the start of the year. This rise in foot traffic is encouraging if you're planning to sell your house. It indicates heightened interest from potential buyers. With more buyers in the market, your home could attract more attention, which could lead to a greater number of offers.

This activity is likely going to ramp up from here. We're entering the busiest time of the year for the housing market. Spring is when more folks decide to buy or sell their homes than at any other time. So, it's a perfect opportunity to list your property and get involved in the market.

Bottom Line

As buyers are coming back to the market, you have an opportunity to do the same. The rise in buyer interest is something you shouldn't miss out on. To ensure your house reaches these eager buyers, let’s get in touch.

If the perfect buyer showed up at your door tomorrow, would you be prepared to sell?