Key takeaways:
- It’s a good time to sell your house if you price it correctly and are open to negotiation.
- Rising inventory favors buyers, but sellers can still get good offers in some markets.
- Selling now could help you avoid potential price drops if tariffs cause more market swings.
- It may be best to wait if you want top dollar or recently refinanced.
If you’re thinking about selling, you’re not alone. But with today’s high mortgage rates keeping buyers on the sidelines, it’s fair to wonder if now is the right time. The typical monthly housing payment has reached nearly $2,900, and buyers need to earn $50,000 more than renters to afford a home. These costs have frozen the market, which will likely only marginally improve in 2025.
On top of that, President Trump’s tariffs have created a volatile economy. Experts believe a recession, inflation, or both is more likely than not in the near future, which could spook buyers. What does this mean for sellers?
In short, there are always good reasons to sell your house – maybe you need to move or want to cash in on your home’s value. But is now the right time? Let’s dive into market trends to help you decide if you should sell your house now, or wait.
>> Read: How to Sell Your House in 2025: A Comprehensive Guide
Thinking of selling?
Lock in a competitive rate for your next home.
Thinking of selling?
Lock in a competitive rate for your next home.
What sellers need to know about the housing market
Here are some market trends to keep an eye on before finding an agent and listing your home for sale.
Housing market: Buyers are in charge, mostly
“Home sellers should prepare for a buyer’s market,” said Daryl Fairweather, Redfin Chief Economist. “Rising inventory has given buyers more options, but record housing costs have made them weary. Those willing to brave today’s market are prepared to drive negotiations and pay a fair price, so in general, homeowners should no longer expect to go under contract within a week. Sellers will need to be flexible, strategic, and realistic about pricing if they want to stay competitive.”
That said, trends vary widely across the country. In the Midwest and East Coast, there aren’t enough homes for sale to meet demand; sellers in cities like Milwaukee and Detroit may see multiple offers, bidding wars, and quick sales. On the flip side, many Sun Belt cities now favor buyers, as homeowners look to escape worsening climate risks and skyrocketing insurance costs. Typical homes in Austin and Tampa sell in 55 and 49 days – six-times longer than during the pandemic.
Here are the top states where buyers have the upper hand, according to days on market. As a rule of thumb, the fewer days an average house is on the market, the more demand there likely is.
Economy: Tariffs, inflation, and uncertainty
“Trump’s tariffs could substantially affect house prices and mortgage rates,” said Chen Zhao, Head of Economic Research at Redfin. “Even though they’re paused, the tariffs on China plus the 10% universal tariffs are the largest duties in a century. If these are not heavily walked back, impacts on the economy and housing market would be substantial – think recession, inflation, or the combinatory stagflation.“
In a worst-case scenario, sellers may have to deal with falling house prices, higher mortgage rates, and reduced demand.
In these uncertain times, it’s essential to talk with your agent to discover how local trends are shifting and decide if now is a good time to sell. Having a backup plan and staying patient can help you navigate bumps in the road.
>> Read: How to Buy, Sell or Rent a Home Amid Economic Uncertainty
When is it usually a good time to sell your house?
Spring is generally the best time to sell, when buyers are most likely to be active. However, market trends and personal considerations matter the most. In today’s market, sellers should be prepared for reduced buyer demand, plan ahead for their next home, and be realistic about pricing.
Here are some general rules for sellers to follow to decide if it’s a good time to sell.
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Situation
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What it could mean for sellers
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If housing supply is low
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Fewer homes on the market can push prices up and lead to faster sales. That’s the case in many metros today, especially in the Midwest and East Coast, where demand outpaces supply.
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If mortgage rates drop
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Falling mortgage rates can spark a surge in demand. More buyers in the market often means stronger offers and possible bidding wars – good news for sellers.
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If you need to sell
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Sometimes, life necessitates that you sell. Maybe your family is growing, you need to relocate for work, or want to be closer to family. In these cases, it may not matter if it’s an objectively “good” time to sell.
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>> Read: How to Sell Your House Fast – and for More Money
When is it typically a bad time to sell your house?
You may have no choice but to sell your house, but when these trends are at play, you’re less likely to sell quickly or above market value.
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Situation
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What it could mean for sellers
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If mortgage rates are high
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Higher mortgage rates effectively shrink buyers’ budgets, meaning they get less house for the same amount of money. This often means fewer, lower offers. If you can’t command the price you want, it may be worth waiting to sell.
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If you’ve recently refinanced
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Selling soon after refinancing could wipe out any savings you gained from a lower rate, especially once you factor in closing costs and fees. Many sellers today are “locked in” to a pre-pandemic rate and see no reason to give it up.
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If your home needs work
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A home that needs some love can be harder to sell and may attract lower offers. If you have major repairs on your to-do list, consider tackling them before listing.
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>> Read: 7 Common Home Selling Mistakes and How to Avoid Them
So, is now a good time to sell a house?
If you’re financially ready, know your next move, and have a great agent, now may be a good time to sell a house.
However, house prices are rising and the economy is turbulent. Plus, with more supply and high mortgage rates, many buyers are holding out for a good deal, meaning sellers generally don’t have the negotiating power they had during the pandemic. You may need to offer incentives to attract serious offers.
Overall, sellers should plan for a buyer’s market, connect with an agent, and price competitively. Selling with Redfin gives you options to reduce your listing fee, get top-tier marketing and pre-listing help, and access to the best agents. Of course, if you need to sell now – whether it’s for a move, a change in finances, or something else – it’s always the right time.