Updated Rules for Selling a House

Last year, higher interest rates forced some would-be buyers to put their plans on pause, leaving many sellers with limited options. But never fear — 2024 brings a new market with updated rules.According to national averages, Realtor.com^® reports some extremely encouraging guidelines for sellers in the housing market right now.

Rule 1: Buyers Are Back
With mortgage rates holding steady, more buyers are entering the market with, perhaps, increased confidence due to rate stability.

Rule 2: Step Up Your Home Game
Last year, buyers were more accepting of a property in need of renovations. But now, with inventory starting to increase, sellers may want to consider making their house stand out with interior and exterior updates.

Rule 3: Practice Patience
Getting a good offer may be as simple as winning the waiting game. An increase in buyers improves the chance you'll receive the offer you want if you're willing to wait for it.

Rule 4: Your Wiggle Room Has Expanded
More buyers signal a return to negotiating power. If you receive an offer lower than you hoped for or lacking in certain specifics you need, your real estate agent can advise you on making a counteroffer.

Rule 5: There's No Better Time Than Now
According to some economists, we're in a sweet spot where rates are steady, but the market hasn't quite picked up speed yet. This means now might be the prime time for savvy sellers to list. A real estate professional who understands your local market can help you find the best time to list your property.