So much for lower rates!

https://www.mortgagenewsdaily.com/markets/mortgage-rates-04072025

We’re not in a buyer’s market is because sellers have to agree to it AND move down on price – if they don’t, then the market is just loitering.

Sellers have the right to hold out on price and either wait for a lucky sale, or hope that market pricing rises up to meet them and their aspirations. The latter has been working for years!

The selling season will run out of gas at some point.

It may have already.

It sure looks like the second half of 2025 is going to be sluggish. Only the gunslingers and crazy people will have much luck then.

So all we have are the next two months.

Mortgage rates will have some influence on the outcome. But the days-on-market will be the main cause of buyer reluctance to paying the seller’s price.

Three-quarters of the current inventory has been for sale for more than two weeks. If those aren’t sold in the next month or two – and their DOM ends up being 60-90 days or more – the chances of them selling in 2025 are remote at best.

Simple tip for home sellers: Decide how much of a discount you are willing to tolerate. Divide it in half, and reduce your price once in April, and once in May. If not sold by the end of June, pack it up and try again next year!