Hope Leitner, Realtor®, CRS

  Should I Wait for Mortgage Rates To Come Down Before I Move? If you’ve got  a move  on your mind, you may be wondering whether you should wait to sell until  mortgage rates  come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things change. It goes from limited or weak demand to good or strong demand. That’s because a big portion of the buyers who sat on the sidelines when rates were higher are going to jump back in and make their moves happen. The  graph below  helps give you a visual of how this relationship works and where we are today:   As Lisa Sturteva

  If one of the goals on your list is  selling your house  and  making a move  this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re  ready to sell . 1. Price Your Home Right The  housing market  shifted in 2023 as  mortgage rates  rose and  home price appreciation  started to  normalize  once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today.  Hannah Jones, Economic Research Analyst for  Realtor.com ,  explains : “Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so  a well-priced, well-maintained home is the ticket to d