Why Sellers Still Have the Upper Hand—Even in a High-Rate Market

You've probably heard a lot about how high mortgage rates are slowing the housing market. Here's a truth that many sellers are unaware of: In most areas, home owners still have the advantage. It all comes down to a simple factor...low inventory.

Home prices continue to hold up despite higher interest rates. Why? There are simply not enough houses to satisfy the demand. In the last few years, many homeowners have locked in historically low mortgage rates and choose to remain put. The result is a lack of listings. When the supply of homes on the market is low, the competition to buy them naturally increases.

This is good news for sellers. Fewer listings competing with each other means:

• Your property will be given more attention - Because buyers have limited choices, your home is more likely to stand out.
• You'll have more negotiating power with less inventory.
• Even in a market with high rates, homes that are well priced and presented can sell quickly.

Understanding the current market and using it to advantage is the key. In today's market, sellers who have the right strategy and professional guidance can still get top dollar.

Are you thinking of selling your home? You may have a chance to shine in this market, because buyers are still looking for houses like yours.