Why Now Might Be the Perfect Time to List Your Home
By Kelly Pearson, Kelly Pearson Realty Group
If you've been holding off on selling your house, why now might be the perfect time to list your home is becoming clear. Recent shifts in the housing market, especially falling mortgage rates in Frisco, are encouraging more buyers to return.
For months, high interest rates kept many potential buyers on the sidelines. However, things are changing. The Federal Reserve recently cut the Federal Funds Rate, and while this doesn’t directly impact mortgage rates, it often leads to lower borrowing costs. Experts predict rates may drop even further into next year, making it more affordable for buyers to finance homes. As Lisa Sturtevant, Chief Economist at Bright MLS, explains:
“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”
This shift signals why now might be the perfect time to list your home—more buyers lead to greater competition and potentially higher offers.
As mortgage rates drop in Frisco, more buyers are applying for loans, which indicates growing interest in the housing market. The Mortgage Bankers Association’s (MBA) Mortgage Application Index clearly shows a relationship between falling rates and increased buyer activity. More buyers in the market is great news for sellers.
According to the National Association of Realtors (NAR), home sales in Frisco have recently increased, signaling a rise in buyer activity. With more buyers in the market, your home is likely to sell faster and at a better price.
Edward Seiler, AVP of Housing Economics at the MBA, expects this trend to continue:
“MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market.”
With buyer demand increasing in Frisco and mortgage rates dropping, experts expect this trend to continue. If you’re thinking about selling, now is the time to act. Let’s work together to get your house ready for the market in Frisco. Contact me today to learn more about selling a home in Frisco!
