Hint: Buyers Are Coming Back

Thinking of selling but worried about buyers not being interested? Well, here’s your sign—it’s time to chat with an agent. After months of high mortgage rates keeping potential buyers on the bench, things are finally starting to shift in the right direction. Mortgage rates are already on the decline, and with recent changes in the Federal Funds Rate, the stage is set for even lower rates on the horizon. More buyers are ready to re-enter the market, and this is your opportunity to take advantage of that renewed interest.

Mortgage Rates Are Dropping—And So Are Buyer Hesitations

Let’s talk about what’s happening right now. After months of a sluggish housing market, buyer activity is rising again thanks to lower mortgage rates. The Federal Reserve recently cut the Federal Funds Rate for the first time in over a year, paving the way for mortgage rates to follow suit. And while the Fed doesn’t control mortgage rates directly, their actions create a ripple effect that impacts the housing market.

Lisa Sturtevant, Chief Economist at Bright MLS, explains it perfectly:

“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”

Translation? Lower mortgage rates mean more buyers are eager to jump in, and you want your house to be the one they’re bidding on.

As Rates Fall, Buyer Activity Shoots Up

Don’t just take my word for it—look at the data. Historically, when mortgage rates fall, buyer activity skyrockets. More buyers entering the market means more competition for your home. The graph below shows how falling rates are directly tied to the rise in mortgage applications. The orange line represents the average 30-year mortgage rate, while the blue line represents the Mortgage Application Index—more applications mean more buyers are ready to purchase.

As mortgage rates (orange) drop, the number of mortgage applications (blue) climbs, meaning buyers are re-engaging in the market.

What This Means for You as a Seller

This resurgence of buyers is already making waves. In fact, home sales increased in July after four straight months of decline, according to the National Association of Realtors (NAR). And the good news keeps coming—more buyers in the market means increased competition for homes, leading to higher offers and faster sales. This is especially great if you’re hoping for a quick sale at a competitive price.

Here’s what Edward Seiler, AVP of Housing Economics at the Mortgage Bankers Association, had to say:

“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.”

In plain English? More buyers, fewer affordability challenges, and an even more competitive market for sellers like you. The numbers are in your favor.

Now’s the Time to Prepare Your Home for Sale

With more buyers entering the market, the time to get your house ready is now. Whether that means minor touch-ups, decluttering, or even hiring a professional stager, preparing your home now means you’ll be ahead of the competition when the buyers come knocking. And trust me—they’re coming.

My Final Thoughts: Strike While the Market is Hot

The real estate market is shifting, and buyers are back in play. The recent dip in mortgage rates is already leading to increased buyer interest, and experts predict this trend will continue well into next year. So why wait? Reach out to me today to discuss the best strategy to prepare and sell your home. If you know anyone else in your circle who’s been on the fence about selling, feel free to send them my way too. This is the moment to make a move, and I’m here to help every step of the way.

Source:  Keeping Current Matters

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Dan McDevitt
Cummings & Company Realtors
Team Leader, Realvolution Homes Group