home sales Archives - Real Estate News and Commentary

July 4, 2025July 4, 2025

When Your Home Isn’t Selling

When Your Home Isn’t Selling: Should You Withdraw the Listing or Change Agents?

It can be frustrating and even disheartening when your home isn’t selling and sits on the market without meaningful offers. At some point, you may start to wonder: Is it time to pull the listing, or would switching agents make a difference?

Here’s how to navigate that decision with clarity and confidence.

Why your home isn’t selling

Before taking drastic steps, it helps to examine common reasons a home lingers unsold:

Pricing: Even in strong markets, an overpriced home will have trouble. Buyers today are savvy and have plenty of data at their fingertips. Buyers often know value better than we think.
Condition & Presentation: Today’s Buyers shop online first. Poor photos, clutter, or deferred maintenance can easily turn them off.
Market Dynamics: Interest rates, seasonal patterns, and local supply and demand all play a role AND affect buyer urgency
Marketing Reach: Not all agents/teams use customized strategies. Digital exposure, staging guidance, and proactive outreach to other agents matter.

Should you withdraw the listing?

If your circumstances have changed, perhaps you’re no longer ready to move, or you want to wait for a better market, withdrawing your MLS listing might make sense. Just keep in mind:

Some MLS systems track the days on market, so relisting later doesn’t always give you a fresh slate.
Buyers and agents may notice previous listings, so timing and presentation are key when you return to market.

Is it time to change agents?

Sometimes, a fresh perspective and renewed energy are exactly what’s needed. It may be time to consider other agents if:

You feel your listing was not aggressively marketed.
Communication was lacking, you weren’t getting honest feedback, clear updates, or strategic advice.
The agent or team did not deliver what was promised, whether that was availability, professional photography, staging help, open houses, or specific advertising commitments.
The agent or team was simply difficult to work with, adding stress to an already demanding process.
You suspect pricing guidance wasn’t in line with current local realities.
A new agent can often bring different tools, marketing channels, and negotiation strengths to reposition your home for a better result.

Bottom line

Whether you decide to withdraw your MLS listing and wait for a better time, or switch agents to get renewed energy, make sure your decision is driven by facts, not just frustration. A thoughtful strategy, informed by data and market insights, will put you in the best position to sell on your terms. A seasoned real estate professional can help you assess the data and chart the best next steps.

What are pricing trends in your neighborhood?

What’s your home worth?

By Dan Krell
Copyright © 2025

Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.

October 25, 2022October 25, 2022

Perception of a housing crisis

If you’ve watched the news lately, you might get the feeling that the housing market is imploding. Unfortunately, the talking heads are reporting the titles of the news releases, such as the October 20^th National Association of Realtors press release headline “Existing-Home Sales Decreased 1.5% in September,” without delving into the details. Like anything else that’s reported, just parroting a headline doesn’t tell the entire story. Get the big picture and avert the perception of a housing crisis.

Here are the highlights of the NAR report: “Existing-home sales sagged for the eighth consecutive month to a seasonally adjusted annual rate of 4.71 million. Sales slipped 1.5% from August and 23.8% from the previous year. The median existing-home sales price increased to $384,800, up 8.4% from one year ago. The inventory of unsold existing homes declined for the second straight month to 1.25 million by the end of September, or the equivalent of 3.2 months’ supply at the current monthly sales pace.”

The takeaway is that yes, existing-home sales have been sluggish (eight consecutive months), however does that mean a housing crash? No. Consider the other important data points included in the news release: the median existing-home sale price increased 8.4 percent year-over-year, AND the inventory of unsold homes continues to decrease.

What’s your perception of a housing crisis ? For many, the memories are still fresh of the housing crisis of 2007 and subsequent foreclosure crisis. So, it’s not surprising that the media’s alarms go off when existing-home sales drop as they did recently. However, the fundamentals of today’s housing market are much different than that of 2008-2010. During the housing crisis of 2007, home sale prices plummeted when home sales dropped. Additionally, inventories of unsold homes swelled to record levels.

Today’s housing market is much different and looking at the entire picture, the stats tell a different story than what is being portrayed by the media. NAR Chief Economist Lawrence Yun chalks up the decline in sales to increasing mortgage interest rates, which are approaching the accepted historical average of 7 to 8 percent. He also points out “…Despite weaker sales, multiple offers are still occurring with more than a quarter of homes selling above list price due to limited inventory… The current lack of supply underscores the vast contrast with the previous major market downturn from 2008 to 2010, when inventory levels were four times higher than they are today.”

By Dan Krell
Copyright © 2022

Protected by Copyscape Web Plagiarism Detector

June 24, 2022June 24, 2022

Housing Market Pause, Slowdown, or Collapse?

Is the housing market in a pause, going into a slowdown, or worse – headed for a collapse? Looking back to an article I wrote an article in the summer of 2018 asking the same question, we were at a similar point then and asking the same questions. Just like today, the summer of 2018 saw decreasing home sales after a sellers’ and sharply rising home sale prices. Instead of being in full swing, the housing market of the summer of 2018 was cooling down.

During that time, it was common place to hear about the impending doom and gloom in a housing collapse from the media. In hindsight, what occurred that summer was a normal reaction to an overheated market where stressed home buyers basically took a break. Even with the short pause, the housing remained an active and viable aspect of the US economy.

Housing, like other facets of the economy, go through cycles of boom and bust. Most are familiar with the extreme boom and bust cycles, such as what occurred during 2005-2007. However, many are unfamiliar with the concept of the mini-cycle. The mini cycle is a period of short-term growth and slowdown, modulating to maintain a relative balance. Instead going through a protracted cycle of expansion, hyper-supply, and recession, the housing market could be correcting itself via mini cycles.

Prior to the lockdowns of 2020, the housing market was in the process of correcting itself from sharp home price increases during a hot 2017-2018 market. At that time, home sale inventory was already at historic lows (which began in 2013). As you can understand, the lockdowns further exacerbated the home sale inventory shortage and pushing the housing market and home buyers into an unprecedented situation. The double-digit multiple offers and six-figure escalations pushed home buyers to the edge, exhausting and discouraging many.

After a year and a half of sensational activity and home price gains, it’s not unthinkable that home sales would correct itself. As reported in the June 21^st National Association of Realtors press release (https://www.nar.realtor/newsroom/existing-home-sales-fell-3-4-in-may-median-sales-price-surpasses-400000-for-the-first-time), May 2022 home sales decreased 3.4 percent from April, and decreased 8.6 percent from May 2021. Home sale inventory continues to increase, and was reported to be about 2.6 months of supply, which gives home buyers more opportunities.

Home prices, on the other hand, continue to increase. As reported in the NAR press release, median home prices are 14.8 percent higher than a year ago! The $407,600 median home sale price is the first time the median sale price exceeded $400,000.

Of course, housing is also affected by outside economic factors, which are concerning to everyone. If you are in the market to buy or sell a home, look at the facts and make decisions that make sense for your situation. Finally, work with a seasoned professional to assist you to understand and navigate your local market.

By Dan Krell
Copyright © 2022

December 27, 2020November 23, 2021

Home Sale Predictions 2021

Given the performance of the housing market this year, can we make home sale predictions for next year? The housing market had quite a year! It’s amazing how resilient the market is, which demonstrates the appeal of homeownership. Even after a significant spring slowdown, home sales rebounded to record levels in the fall. NAR’s Existing Home Sales and Pending Home Sale Indices for October 2020 increased year-over-year 26.6 and 20 percent respectively (nar.realtor). Even as we headed toward the holidays, NAR’s November Existing Home Sales increased 25.8 percent year-over-year. And year-over-year median home prices increased 14.6 percent.

While some experts expect the recent housing market activity to continue, others question if this intense home buying is sustainable. Making home sale predictions for the new year has always been predicated on recent trends. However, 2020 was different. Unexpected and unusual events occurred throughout the year affecting the housing market. First taking a pause because of an economic shock, home sales made up ground later in the year.

Recent trends suggest that home buying will continue at a healthy rate, as long as the economy remains relatively similar. However, being an election year there is anticipation for change. Even many economists, who are typically ready to offer their opinion, are ambivalent about the economy. This may suggest that the economic outlook for the near future is uncertain.

A main factor to watch in 2021, is employment. It’s a known fact that unemployment directly effects home sales. In periods of increasing unemployment, home sales decline. A 2010 Florida Realtors (floridayrealtors.org) survey demonstrated a correlation between unemployment and foreclosures. There is no coincidence that home sales strongly rebounded along with employment and the economy. If employment remains stable into 2021, home sales will continue to over-perform.

Other factors that will drive the housing market in 2021 include mortgage interest rates, home sale inventory, and home buyer demand.

Mortgage rates have been relatively low since 2008. At that time, rates hovered in the low 4’s, and were though to be “historically low.” Also, consider that mortgage rates were in the 18 percent range during the early 1980’s. Even during the go-go market of 2005-2006, rates hovered in the 6 percent range. But the most recent mortgage interest rate average of 2.66 percent for a 30-year-fixed rate is described as “another record low” by Freddie Mac’s December 24^th 2020 Primary Mortgage Market Survey (freddiemac.com). If mortgage rates remain low, home buyers will be incentivized to buy homes.

Another after-effect of the Great Recession, which continues today, is low home sale inventory. The Great Recession changed how consumers thought of housing. Since 2008, home owners have remained in their homes much longer. Many growing families make due with smaller spaces, rather than moving-up to a larger home. Many older home owners are deciding to “age in place,” in lieu of down-sizing. And telecommuting is outpacing job relocation. Home sale inventory of non-distressed properties will continue to remain low through 2021.

There is always “home buyer demand.” Meaning there are always active home buyers. However, the strength of the demand varies. Home buyer demand is typically gauged in hindsight through home sales and pending home sales. When you combine housing stats with other factors, such as employment, economy, and mortgage rates you can estimate the strength of future home buyer demand. If economic factors remain stable, home buyer demand will continue to be strong in 2021.

Original published at https://dankrell.com/blog/2020/12/27/home-sale-predictions-2021/

By Dan Krell
Copyright © 2020

If you like this post, do not copy; instead please:
link to the article,
like it on facebook
or re-tweet.

December 5, 2020November 23, 2021

Home Prices 2021

It’s almost inconceivable to think that the housing market will undergo a foreclosure crisis similar to what we went through back in 2008. How will home prices 2021 be affected by an impending wave of foreclosures?

If you remember, the 2007 housing market peaked as home prices skyrocketed. Homes were a hot commodity as home buyers and speculators seemingly could not get enough. But by the fall 2007, as if someone flipped a switch, inventory piled up. There was a reckoning in 2008 as the market was flooded with foreclosures. Home prices dropped to the lowest levels in a decade and days-on-market averaged in months. It took five years for home prices to stabilize and maintain solid gains.

Fast forward to the 2020 lockdowns. The housing market took off like a rocket during the summer and fall, after taking several months off. Pent-up demand was the catalyst for record home sales leaving inventory depleted and forced upward pressure on home prices. Housing is again economy’s workhorse.

A November 19^th NAR press release (nar.realtor) touting October home sales indicated that existing-home sales increased 26.6 percent year-over-year! Additionally, the median existing-home sale price increased 16 percent year-over-year. All this occurred as home sale inventory levels are historically low. Interestingly, it was noted that about 70% of homes sold during October, which means not all homes sold.

Additionally, October’s pending home sales point to a strong market into 2021. The NAR’s October Pending Home Sale Index indicated that although new contracts declined a slight 1.1 percent from September to October, the year-over-year new contracts increased about 20 percent!

With stats like this, many industry experts are expecting a strong housing market and increased home prices 2021. The high expectations for the housing market is demonstrated by a December 3^rd HousingWire report (housingwire.com) titled, “Even with low inventory, expect a strong 2021 housing market.”

And as many celebrate this hot housing market during a global pan-demic, some are raising concerns about the many home owners who are delinquent on their mortgages. Unfortunately, delinquent mortgages haven’t received as much coverage as it probably should have. Many home owners are unable to stay current on their mortgages due to lock-down job cutbacks. As a result, some are expecting a surge in foreclosure notices.

An October 13^th CoreLogic press release indicated that the July mortgage delinquency rate (30 days or more late) was 6.6 percent. Although the rate slightly dropped from June’s 7.1 percent, serious delinquencies (90 days or more past due) jumped to 4.1 percent (compared to 1.3 percent a year earlier). Serious delinquencies are the highest since April 2014. Troubling is that mortgages which are 120 days or more late surged to 1.4 percent – which is a 21-year high, eclipsing the 2009 peak! The metropolitan areas experiencing the highest delinquency rates are those where home price increases made the most gains (such as New York, Miami, Las Vegas, and Houston).

So, what does this mean?

An August 27th CoreLogic report made a case for declining home prices in 2021. There’s no denying it, there is a foreclosure wave waiting in the wings. It’s unclear when the foreclosures will occur because of the current pan-demic moratorium. However, if foreclosures are as numerous as they were in 2008, home prices 2021 will likely decline when these homes come to market.

By Dan Krell
Copyright © 2020

Original located at https://dankrell.com/blog/2020/12/05/home-prices-2021/

If you like this post, do not copy; instead please:
link to the article
like it on facebook
or re-tweet.