08/06/2026
A lot of people have asked me lately why the market is so bad. Why are most homes taking 6 months or more to sell? Should I rent it out instead of selling?
It’s hard to believe with Covid going on that our market was so hot in 2020, 2021, 2022 and even 2023 was decent. Interest rates were at a record low in 2020 and eventually creeped up to about 5.5% to 6%. When it hit 6% buyers backed off so naturally homeowners waited to try and sell. Things started slowing down in 2024 but held pretty steady for the times we found ourselves in. 2025 proved to be very slow for a lot of us and 2026 has felt non-existent to most Realtors and Lenders, cause let’s face it, when a Realtor’s business is slow so is business for the Lenders. There are some lucky homeowners who sold this year. You’re very fortunate that you had a product at a price someone needed. But everyday I’m seeing the same homes for sale listed for months. The daily info graph bar in the MLS for “Price Reduced” is still the longest, which means homeowners are pricing too high to begin with and they start dropping it every couple of weeks.
Today’s average interest rates for a 30 year mortgage are: FHA 6.37%; Conventional 6.69% and VA 5.875%. Buyers have been waiting, hoping they will come back down below 5% for a few years now. Well, it hasn’t happened. They’ve gone up instead.
Ever heard the term “It’s always the right time to buy and sell real estate.” Well, it is. If you buy at today’s interest rate you can refinance if they drop. If they go up more, well you’ll find you bought at the right time.
