Why Now’s Not the Time To Take Your House Off the Market

<article class="post-1224111 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1224111"><span class="entry-date">October 8, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Why Now’s Not the Time To Take Your House Off the Market</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Why+Now%E2%80%99s+Not+the+Time+To+Take+Your+House+Off+the+Market&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhy-nows-not-the-time-to-take-your-house-off-the-market%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Why Now’s Not the Time To Take Your House Off the Market Simplifying The Market" decoding="async" loading="lazy" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20241007/20241008-Why-Now-s-Not-the-Time-To-Take-Your-House-Off-the-Market-original.png" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
<p>Has your house been sitting on the market <a href="https://www.simplifyingthemarket.com/2024/06/25/how-long-will-it-take-to-sell-my-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">longer</a> than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what <a href="https://www.simplifyingthemarket.com/2024/09/06/early-forecasts-for-the-2025-housing-market-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">2025</a> brings. But what you may not realize is, the decision to hold off could actually <a href="https://www.simplifyingthemarket.com/2024/08/30/how-to-avoid-todays-top-seller-mistakes/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">cost you</a>. Here’s a look at why staying the course could be the smarter move.</p>
<h4><strong>Other Sellers Are Pulling Back. Should You Hold Off Too?</strong></h4>
<p>According to recent <a href="https://www.housingwire.com/articles/more-home-sellers-are-withdrawing-listings/" rel="noopener noreferrer" target="_blank">data</a> from <em>Altos Research,</em> the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t unusual for this time of the year.</p>
<p>In the housing market, there are seasonal ebbs and flows. <a href="https://www.simplifyingthemarket.com/2024/08/23/how-growing-inventory-benefits-todays-buyers-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">Inventory</a> levels typically start to drop off a bit headed into the fall season as some sellers delay their plans until the new year. As Mike Simonsen, Founder of <em>Altos Research</em>, <a href="https://www.housingwire.com/articles/more-home-sellers-are-withdrawing-listings/" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote><p><em>“. . . we’re seeing a more normal seasonal pattern now with inventory beginning to decline. </em><strong><em>We’re also seeing more home sellers withdrawing their listings to try again next year. In fact, for every two sales, there is another listing withdrawn from the market.” </em></strong></p></blockquote>
<p>But is that a smart move? While it might seem like a good idea to pull your listing too, here’s why that approach may not pay off this year.</p>
<h4><strong>Today’s Buyers Are Serious and Ready To Act</strong></h4>
<p>The biggest reason to stick with your plan <a href="https://www.simplifyingthemarket.com/2024/10/02/secrets-to-selling-your-house-quickly/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">to sell</a> now is that the buyers who are looking at this time of year are serious about making a purchase.</p>
<p>They’ve been sitting on the sidelines for a while waiting for <a href="https://www.simplifyingthemarket.com/2024/10/04/the-top-3-reasons-affordability-is-improving-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">affordability</a> to improve. And now that mortgage rates are <a href="https://www.simplifyingthemarket.com/2024/09/17/mortgage-rates-drop-to-lowest-level-in-over-a-year-and-a-half/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">down</a> from their recent peak, they’re ready to make their move. <a href="https://www.simplifyingthemarket.com/2024/09/19/falling-mortgage-rates-are-bringing-buyers-back/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">Mortgage applications</a> are rising – and that’s a leading indicator that buyers are preparing to jump back in. And since they’ve already put their needs on the back burner for so long, they’re even more eager than <a href="https://www.simplifyingthemarket.com/2024/09/20/lower-mortgage-rates-boost-your-buying-power-infographic/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" target="_blank">buyers</a> usually are at this time of year.</p>
<p>These aren’t window shoppers. They’re highly motivated buyers who want to move fast – and that’s the kind of buyer you want to work with. As <em>Freddie Mac</em> <a href="https://myhome.freddiemac.com/blog/homeownership/20201124-3-reasons-why-fall-is-a-great-time-to-sell" rel="noopener noreferrer" target="_blank">says</a>:</p>
<blockquote><p><em>“During the fall months, serious homebuyers are eager to settle in to a new home before the holiday season ramps up and the winter weather begins.”</em></p></blockquote>
<p>By keeping your home on the market, you increase the chances of attracting people who are truly ready to make a purchase.</p>
<h3>Bottom Line</h3>
<p>While some sellers are choosing to take their homes off the market, this really isn’t the best move. With serious buyers eager to purchase, this is a great time to sell your house. Connect with your agent to make sure you’ve got a strategy in place to make it happen. </p>
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