Want Top Dollar for Your House? Now’s the Time To List It.

History Shows the Housing Market Always Recovers Now that the market is slowing down, homeowners who haven’t sold at the price they were hoping for are increasingly pulling their homes off the market. According to the latest data from Realtor.com, the number of homeowners taking their homes off the market is up 38% since the start of this year and 48% since the same time last June. For every 100 new listings in June, about 21 homes were taken off the market. And if you’ve made that same choice, you’re probably frustrated things didn’t go the way you wanted. It’s hard when you feel like the market isn’t working with you. But while slowdowns can be painful in the moment, history tells us they don’t last forever. History Repeats Itself: Proof from the Past This isn’t the first time the housing market has experienced a slowdown. Here are some other notable times when home sales dropped significantly: 1980s: When mortgage rates climbed past 18% , buyers stopped cold. Sales crawled for years. But as soon as rates came down, sales surged back, and the market found its footing again. 2008: The Great Financial Crisis was one of the toughest housing downturns in history. Sales and prices both dropped hard. Still, sales rebounded once the economy recovered. 2020: During COVID, sales disappeared overnight, and many people had to put their plans on hold. Yet the recovery was faster than anyone expected, with a surge of buyers re-entering the market as soon as restrictions eased. The lesson is clear: no matter the cause, the market always rebounds. Today’s Situation: Where We Stand Now Over the past few years, home sales have been sluggish. And one big reason why is affordability. Mortgage rates rose at a record-breaking pace in 2022, and home prices were climbing at the same time. That combination put buying out of reach for many people. And when demand slows, home sales do too. The Outlook: Why Things Will Improve But here’s the encouraging part. Forecasts show sales are expected to pick up again moving into 2026. Last year, just about 4 million homes sold (shown in gray in the graph below). And this year is looking very similar (shown in blue). But the average of the latest forecasts from Fannie Mae , the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) show the experts believe there will be around 4.6 million home sales in 2026 (shown in green). And a big reason behind that projection is the expectation that mortgage rates will come down a bit, making it easier for more buyers to jump back in. That means what’s happening now is part of a cycle we’ve seen before. Every slowdown in the past has eventually given way to more activity, and this one will too. Just like the 1980s, 2008, and 2020, today’s dip in home sales is temporary. What That Means for You If you’ve paused your moving plans, you did what you thought was right. Your frustration is valid. But it’s also important to remember the bigger picture. Housing slowdowns don’t last forever. That’s where your local real estate agent comes in. Their job is to keep a close eye on the market for you. When the first signs of a rebound appear, they’ll help you spot the shift early so you can relist with confidence. Bottom Line If today’s housing market feels stuck, remember it’s never stayed down for good. Slowdowns end, activity returns, and people get moving again. So, let’s connect, because when the next wave of buyers shows up, you won’t want to miss it. As activity picks up again, will you be ready to put your house back on the market, or do you need to move sooner?

Thinking About Renting Your House Instead of Selling? Read This First. If your house is on the market but you haven’t gotten any offers you’re comfortable with, you may be wondering: what do I do if it doesn’t sell? And for a growing number of homeowners, that’s turning into a new dilemma: should I just rent it instead? There’s a term for this in the industry, and it’s called an accidental landlord . Here’s how Yahoo Finance defines it: “These ‘accidental landlords’ are homeowners who tried to sell but couldn’t fetch the price they wanted — and instead have decided to rent out their homes until conditions improve.” Why This Is Happening More Often Right Now And right now, the number of homeowners turning into accidental landlords is rising. Business Insider explains why: “While there have always been accidental landlords . . . an era of middling home sales brought on by a steep rise in borrowing rates — is minting a new wave of reluctant rental owners." Basically, sales have slowed down as buyers struggle with today’s affordability challenges. And that’s leaving some homeowners with listings that sit and go stale. And if they don't want to drop their price to try to appeal to buyers, they may rent instead. But here’s the thing you need to remember if renting your house has crossed your mind. Becoming a landlord wasn’t your original plan, and there’s probably a reason for that. It comes with a lot more responsibility (and risk) than most people expect. So, if you find yourself toying with that option, ask yourself these questions first: 1. Does Your House Have Potential as a Profitable Rental? Just because you can rent it doesn’t mean you should. For example: Are you moving out of state? Managing maintenance from far away isn’t easy. Does the home need repairs before it’s rental-ready? And do you have the time or the funds for that? Is your neighborhood one that typically attracts renters, and would your house be profitable as one? If any of those give you pause, it’s a sign selling might be the better move. 2. Are You Ready To Be a Landlord? On paper, renting sounds like easy passive income. In reality, it often looks more like this: Midnight calls about clogged toilets or broken air conditioners Chasing down missed rent payments Damage you’ll have to fix between tenants As Redfin notes: “Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don’t have a few thousand dollars on hand to take care of these repairs, you could end up in a bind.” 3. Have You Thought Through the True Costs? According to Bankrate, here are just a few of the hidden costs that come with renting out your home: A higher insurance premium (landlord insurance typically costs about 25% more) Management fees (if you use a property manager, they typically charge around 10% of the rent) Maintenance and advertising to find tenants Gaps between tenants, where you cover the mortgage without rental income coming in All of that adds up, fast. While renting can be a smart move for the right person with the right house, if you’re only considering it because your listing didn’t get traction, there may be a better solution: talking to your current agent and revisiting the pricing strategy on your house first. With their advice you can rework your strategy, relaunch at the right price, and attract real buyers to make the sale happen. Bottom Line Before you decide to rent your house, make sure to carefully weigh the pros and cons of becoming a landlord. For some homeowners, the hassle (and the expense) may not be worth it.