Should Sellers List Now or Try to Wait It Out?

With home prices’ peak likely in the rear-view mirror, should sellers waiting to maximize profit jump in before it’s too late or wait and hope for another market reversal?

FORT LAUDERDALE, Fla. – As the housing market has cooled considerably, sellers are now wrestling with whether to sell their homes as soon as possible or hold off on selling.

Two years ago, it was an easier decision: Prices were at record highs, interest rates were lower than they had been in years, and buyers were so desperate to get into a home that they often bid up on homes and waived any appraisals.

But now, with more homes coming to the market and higher interest rates, buyers have started to reclaim more of the power, throwing sellers into unfamiliar territory.

With the market having shifted, is it more beneficial for them to sell now or wait for another boom?

“We ask them a simple question: ‘Do you think your house will be worth more in six months or a year than it is today, looking at the way the economy is and what interest rates are?’” said Alex Platt, a Realtor with the Platt Group at Compass in Boca Raton.

**excerpt from Florida Realtors

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