Some Homeowners Will Benefit from Other Sellers Going on a So-Called “Strike” This Spring (Are You in a Position to Take Advantage?)
The Lighter Side of Real Estate • April 16, 2023
The spring real estate market isn’t necessarily the best time to sell your house; you can get your house sold quickly and for top dollar at almost any time of year if you price it appropriately and it’s marketed correctly. But spring is definitely a time of the year many homeowners opt to sell their house.
It’s not a bad choice, since there are typically more buyers active in the market looking to buy a home. Plus, there’s a certain energy to the seasonally-driven market which just makes it feel like the perfect time of year to get your house sold quickly and for as much money as possible.
Then again, there are usually also more sellers to compete with in the spring as well, which can take away a bit of the edge you might have when selling during a time of year with less competition. But not this spring…
According to this Yahoo article, many sellers have gone on “strike” this spring, opting to not put their house up for sale.
It’s not that prospective sellers have all colluded as a group to do so; it’s that there’s a good amount of homeowners who have incredibly low mortgage rates on the house they currently own. This is causing some people to hold onto their current house because buying another one would mean taking on a higher mortgage rate.
That’s a fair reason for certain people not to sell this spring, but it’s also the exact reason it makes sense for other people to sell their house now!
Who Should Consider Selling This Spring?
Whether you have a low mortgage rate on your current house or not, there are still some reasons you might want to consider selling now, such as:
- You’ve been considering moving to a lower cost area. If you live in a high-priced area and have been thinking about moving to an area with lower priced homes or living costs, now is a great time to sell and reap the benefits of selling high and buying low somewhere else.
- Moving out-of-area for work. While moving for a job isn’t something you can always time, now is a great time to do so if you have any say in the matter. So if there’s been any hint of having to move for your career, you might want to put that into motion now.
- Moving closer to family. Whether you have aging parents, kids, or grandkids you need (or just want) to be closer to, selling this spring could be the perfect timing.
- Divorce. Deciding when (or even if) you’re going to sell a house due to divorce isn’t always an easy decision. But if you’re in the process of divorcing and it looks like you’ll have to sell your house within the next year, it might make sense to do it during this spring market if all parties can agree to do so.
- Downsizing. Whether you’ve had too much space for quite some time, or are a recent empty-nester and just know you should eventually downsize, you should think about putting your bigger house on the market to capitalize on a pool of buyers hungry for a large home. (This is especially true for anyone who’s been living in their house for decades and has no current mortgage, has a second home to move into, or is planning on moving into a retirement home or assisted living facility.)
- You simply don’t like where you live. Life is too short to live somewhere you don’t love.
Why Should You Consider Selling This Spring?
If you fit into any of those categories, you might want to seriously consider putting your house on the market this spring and take advantage of the current market conditions, such as:
- House prices are still historically high. While there is data showing that prices have come down a bit in certain areas, they are still higher than they were just a few years ago. In fact, according to Robert Shiller — a Yale University professor of economics and co-founder of the Case-Shiller Index — “Home prices are very high by historical standards…”
- Prices could come down in the near future. There’s been a lot of talk about home prices coming down, yet it just never seems to happen on any catastrophic level. Hopefully it won’t happen to that degree. But while there’s no way to predict when or how much they’ll come down, historically the market eventually takes a dip every so often, and we’re probably due for one sooner than later.
- Less competition from other sellers. There hasn’t been enough houses for sale to satisfy the number of buyers looking to buy a home for the past few years, but the number of listings is down even more this year. CNBC reported that listings are down 20% from this time last year, and that it’s half the amount of homes available at this time of year in 2019, before the pandemic-driven real estate market took off.
- Eventually more Baby Boomers will decide to sell…and there are a lot of them. Economists and real estate experts have been predicting for years that there would be a lot of Boomers selling their houses at the same time. But every year it seems that the majority of them continue to hold onto their homes. At some point there will likely be a wave of their homes hitting the market, which could possibly impact how quickly you could sell your house, and the price you could get if the amount of listing exceeds buyer demand at that time.
The Takeaway:
Many homeowners have a low mortgage rate, which makes them hesitant to sell their house. This creates an opportunity for other sellers to capitalize on less competition and historically high home prices during this spring market.
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Rent or Buy? The Real Tradeoff Most People Don’t Talk About You’ve probably asked yourself lately: Is it even worth trying to buy a home right now? It’s a question a lot of people are asking. With today’s home prices and mortgage rates, renting can feel like the easier path. In some cases, it might even seem like the only realistic option right now. And if that’s where you are, there’s nothing wrong with that. But if you’re weighing the decision, there’s one part of the conversation that doesn’t get talked about enough. It’s what each choice does for your future. What Renting Really Gets You (And What It Doesn’t) Depending on your situation, renting does have some advantages: Lower upfront costs. Less responsibility. More flexibility to move when you want. But even with those benefits, a Bank of America survey found 70% of aspiring homeowners worry about what long-term renting means for their future. And that concern comes down to one thing: you’re not building anything for your future. As Yahoo Finance explains: “Paying rent doesn't build equity. You get a place to live, but no ownership stake, no price appreciation, and no asset to leverage for future borrowing or investment .” So, while renting may feel easier, the flexibility you get comes at a cost. How Homeownership Builds Your Wealth Over Time On the other hand, owning a home is one of the most consistent ways people build wealth over time. Why? When you’re a homeowner, you gain something called equity . That’s the difference between what your home is worth and what you owe. That equity grows with every monthly payment you make. It also gets a boost as home values go up through the years – and it adds up quicker than you may think. Today, the National Association of Realtors (NAR) says the average homeowner’s net worth is 43X greater than that of a renter: The dollars in the visual don’t lie. On average, here’s how net worth compares: Homeowners: $430k Renters: $10k And it’s not because homeowners make wildly different decisions day to day. It’s because over time, one path builds something, and the other doesn’t. So sure, buying comes with some upfront costs and more responsibility. But it’s basically a savings account you can live in. The Gap Is Growing Over Time And here’s something else interesting. That net worth gap between renters and homeowners has been widening over time, not shrinking. If you look back at the reports on net worth through the years, you can see the gap is growing as homeowners gain wealth and renters stay stuck in the rental trap (see graph below): Even in 2025, when home prices were moderating, homeowners still gained even more ground. And that tells you something important: When you can afford it and you’re ready for the responsibility, history shows buying is usually worth it in the long run. Because either way, you’re paying for someone’s mortgage and building someone’s net worth. When you rent, it’s your landlord’s mortgage – not yours. But when you buy? Your monthly payments help build equity. The question is: whose do you want to pay? Yours or theirs? So, Should You Buy a Home Now? The short answer is, it depends on your situation. While the long-term benefits of buying are clear, that doesn’t mean the timing is right for everyone right now. And that’s okay. You should only buy a home once you’re ready and the numbers work for you. But whether you’re looking to buy now or planning for the future, the first step is the same. You should have a quick conversation with a local real estate agent about your goals, timeline, and budget. They can help you run the numbers and see what’s realistic. You may find buying is closer than you thought. And if not, you’ll at least know exactly what it will take to get there. Because the sooner you have a plan , the sooner you can decide when it makes sense, instead of wondering if it ever will. Bottom Line Renting may feel more do-able today. But over time, it could cost you . If you want to ditch renting and start building something for your future, it starts with a simple conversation. Let’s connect, talk about your specific goals, and explore your options – so you’re ready when the time is right for you.
Wondering If You Should Still Buy a Home Right Now? Here’s What To Keep in Mind. With economic headlines, global events, and near constant talk about affordability, you may be wondering if this is the right time to move. But here’s what you need to remember. While recent events do have some impact on the housing market, they don’t take buying off the table. You just have to use a different strategy. Mortgage Rates Have Been Up Slightly – Here's Why After trending down for most of 2025, mortgage rates have been higher again for over roughly a month now. And experts say it’s a result of what's happening overseas and in the broader economy. As Mark Fleming, Chief Economist at First American, explains : “Mortgage rates have recently moved higher, driven by geopolitical uncertainty and rising energy costs that are contributing to inflation concerns.” But what does that really mean for you? Should you wait for everything to settle back down before you buy a home? The short answer is no . You don’t have to wait. Your Window To Buy Didn’t Close It’s true that a month or so ago, when rates were just shy of 6%, buying felt a bit more affordable. And now that rates are hovering around the mid-6s, monthly payment costs are higher. But zoom out for a second. Let’s say you’re taking out a loan for $500k. Even with rates in the mid 6s, you’re still saving roughly $300 on your monthly payment compared to buyers who made their purchase early last year. That means this recent increase in rates hasn’t erased the progress we’ve seen. Buying is still more affordable than it was just one year ago (see below): Sure, your monthly payment would’ve been a little less expensive a few weeks back. But hindsight is always 20/20. The goal moving forward shouldn’t be to perfectly time the market. Things change too quickly for that. Instead, the real goal is to make the best decision you can based on where things are today. And the best advice anyone can give is: brace for volatility. When It Comes To Rates, Expect the Unexpected Mortgage rates are going to continue to be move around in the weeks or months ahead as new information and economic reports come out. Try to remember, you can’t control global events or where rates go next week (or even next month). But you can control how you prepare. If you do that, it becomes less about the headlines, and more about your situation. If You Want or Need To Move, You Still Can The simple truth is, if you want or need to move, you still can. Some buyers are choosing to move forward right now because their needs haven’t changed. A growing family, a job relocation, a lifestyle shift – those things still matter. And for buyers who do decide to move forward, there are ways to make it work. For example, you could explore options like adjustable-rate mortgages (ARMs) to get a lower rate upfront. That may or may not be the right fit for you, but it highlights an important point: there are strategies that can help you move, even now. What matters most is having a plan. And working with the right agent and lender is a big part of that. With expert help, you’ll: Understand your budget and what the math looks like at today's rates. Explore your financing options, including ARMs and assistance programs. Have trusted guidance from experts who'll keep you up to date throughout the process. Bottom Line Even though there’s some uncertainty, that doesn’t mean you’re out of options. If you need to move, you still can. Let’s connect so we can explore all your options and make your move happen.
When Buying a Home Feels Out of Reach, Some Families Do This Instead For a lot of people, the math on buying a home just doesn’t really work right now. Maybe that’s how it feels for you too. You look at the cost of buying . Then you look at the cost of childcare. And it starts to feel like you have to choose one or the other. But some families are finding a way to make both work by doing something a little different: teaming up to purchase a multi-generational home . One Reason This Is Becoming More Common It’s no secret that affordability has been a challenge in recent years. But for families with young kids, there’s an added layer that can make it feel even harder: childcare. According to the Department of Health and Human Services, childcare should take up no more than 7% of your monthly income. But in reality, the average married couple spends closer to 10% (see map below): When you combine that with the cost of buying a home, it’s easy to see why things can feel stretched. That’s exactly why more families are starting to rethink how they approach both. The Solution More People Are Turning To: Multi-Generational Living One option gaining traction? Multi-generational living. That’s when parents, grandparents, or other relatives buy a house together and live under the same roof. And it’s not just about convenience anymore. It’s becoming a go-to strategy. You can see it in the data . According to the National Association of Realtors (NAR), almost 1 in 7 homebuyers (14%) bought a multi-generational home in 2025 (see graph below): And for the first time, childcare is showing up as a key reason why they chose this option. As NAR explains : “This year’s report features two new primary reasons for purchasing a multi-generational home: grandchildren living in the home (12%) and to help reduce the cost of childcare (6%).” Why It Works Buying a multi-generational home solves two big challenges at the same time. First, it shares the financial responsibility . If you pool multiple incomes together, you may be able to afford a home you couldn't have on your own. Second, it can also solve the childcare puzzle . When grandparents or other relatives live in the home, they may be able to help with daily care – which can significantly reduce or even eliminate daycare costs. And for many people, that combination is what finally makes their move possible. If the costs of childcare and housing together have made buying feel out of reach right now, it may be worth exploring creative options like buying a home with your loved ones. Bottom Line If you want more information on multi-generational homes, let’s have a quick conversation about what’s available in our area. Sometimes the path to homeownership isn’t doing it alone. It’s doing it together.
