I listed a property for sale about 22 days ago and have not received a single call or showing request. I believe the home is competitively priced, and with rates dropping recently, I expected more interest. Even the open houses only get one or two families.
I’ve spoken with a few agents in my office, and they all mentioned that their listings also saw no activity for the first 2-3 weeks. I wonder if buyers are holding off on making big purchases until after the election?
Is anyone else experiencing something similar? If so, have you found anything that helped generate more activity? The sellers are extremely motivated, and it’s tough having to update them each week with no interest shown in their home.
I am located in CA btw
Anyone else noticing a complete lack of activity on listings right now?
byu/Cayden_H30 inrealtors
REAL ESTATE
Weekly mortgage demand tanks 17%, after interest rates hit the highest level since August
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.52% from 6.36%
- Refinance demand fell 26% week to week.
- Applications for a mortgage to buy a home dropped 7% for the week.