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

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August 27, 2019August 27, 2019

Stock Corrections and Housing

Each time the stock market plunges there’s speculation about a wide spread economic contagion. Talking heads and news headlines predict doom and gloom, as well as speculating about the effects on the housing market. Because Wall Street reacts to all types of news and events, the effect of a stock crash on the housing market can vary. But are stock corrections and housing slumps connected?

If you want to see direct effects of stock corrections and housing slumps, you need only look at the stock market corrections in 2015 and 2018. Both stock market shocks were reactions to events in the US and globally. The extended stock sell-off during 2015 was a reaction to China’s currency devaluation as a result of their low GDP as well as poor economic data that came from the EU. The steep equities decline that happened during August through September of that year was bad timing for the housing market, as it occurred when the fall market was gearing up. Consumer confidence dropped and home buyers were concerned about home values. As a result, home sales slowed during the fall of 2015.

Moving forward, February 2018 is one of the most volatile trading months in recent history. That month saw two of the largest daily losses of the Dow Jones Industrial Average (both over 1,000 points). The market correction was due to Fed rate increases and concerns of inflation. The stock market correction occurred before spring home buyers were out in full force, so the short-lived event had minimal effect on home sales. Although home prices continued to post gains, existing home sales declined the second half of the year after an active spring and summer.

Are stock corrections and housing slumps connected?

This month’s stock market one-day plunge was likely tied to tariffs, trade and currency wars. The large decline occurred after China devalued its currency so as to make its consumer goods cheaper in the face of increasing tariffs.

Regardless of the impact of equities, it’s important to point out that home sales have been inconsistent throughout the year. A July 23^rd NAR press release indicated that existing home sales are 2.2 percent lower than last year. Chief NAR economist Lawrence Yun stated, “Home sales are running at a pace similar to 2015 levels – even with exceptionally low mortgage rates, a record number of jobs and a record high net worth in the country…” Although it may feel like we are repeating the housing cycle of 2015, it’s for different reasons. Like then, home sale inventory is low and home buyers are anxious about increasing home sale prices. However, differences include low mortgage rates, high consumer sentiment, and a stronger economy.

Although the overall effects of current stock volatility on the housing market may be minimal, equities corrections are typically harsher on upper bracket and luxury homes. Demand for starter homes will remain high, while upper tier homes will have to adjust pricing. Yun stated “Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices…”

Although stocks rebounded the next day, we really don’t know yet if this is the beginnings of stock correction or a one-day event, so there is no way to gauge an immediate effect on home buyers. However, A July 17^th NAR report indicated that foreign home buyers have been affected by a slowing global economy and low US home sale inventory. The NAR Profile of International Transactions in U.S. Residential Real Estate 2019 indicated a 36 percent decline of foreign investment in U.S. residential real estate from last year. It’s likely that foreign investment may further erode as a currency war develops.

By Dan Krell
Copyright © 2019

Original located at https://dankrell.com/blog/2019/08/27/stock-corrections-and-housing/

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August 2, 2018July 23, 2019

Home buyer fatigue

Home Buyer Fatigue or Housing Derangement Syndrome?

Although home prices remain strong, the volume of home sales has dropped off during June. This is causing some in the media to exhibit “housing derangement syndrome” by reporting a pending housing collapse. However, there is a more sensible answer and that may be “home buyer fatigue.” Buyer fatigue is not solely used in real estate, rather it’s a term to describe consumers who do not engage in a market sector for a short duration for various reasons. Home buyer fatigue has occurred multiple times since 2013 after a period of sustained home price increases.

Let’s look at the facts.

The National Association Realtors (nar.realtor) reported in a July 23^rd press release that the total existing home sales for June decreased 0.6 percent, and is down 2.2 percent from the same time last year. Home sales in Montgomery County have also been retreating. The Greater Capital Area Association of Realtors (gcaar.com) reported sales declines for single-family and condos during June (-3.4 percent and -13.9 percent respectively). Year-to-date sales are also below last year’s transactions for the same time period.

NAR chief economist Lawrence Yun observed:

“There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining.”

However, his explanation for the home sales retreat sounds like home buyer fatigue:

“The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast and in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”

Although national home prices are increasing, the gains remain steady. The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported on July 31^st (spice-indices.com) indicated a 6.4 percent annual gain during May, which is the same as the previous month. However, the 20 City Index showed a slight decline to 6.5 percent (from 6.7 percent). Seattle, Las Vegas and San Francisco continue to lead the nation with double digit gains (13.6, 12.6 and 10.9 percent respectively). The Washington DC region, however, showed a modest annual home price growth of 3.06 percent.

As home sales decline, many contribute home buyer fatigue to increasing home prices and mortgage interest rates. A few have already begun to ring the warning bells of bubble popping home price deflation citing Seattle and San Francisco’s housing woes.

However, those exhibiting housing derangement syndrome need to take a deep breath and look at the facts. Most of the country’s home values are increasing at a sustainable rate. Additionally, contrary to reports of inventory surpluses, home sale inventory continues to be low in most of the country (Montgomery County single-family and condo listings are below last year’s level by -9.3 and -12.8 percent respectively).

It’s also important to look deeper into what may be driving those overheated housing markets to experience the sharp price spikes and recent sale declines. For example, Seattle’s housing juggernaut may be tied to Amazon’s nine years of a seemingly hiring frenzy. According to reporting by Matt Day for The Seattle Times (Amazon’s employee count declines for first time since 2009; seattletimes.com; April 26, 2018), Amazon begun corporate layoffs, as well as a possible hiring freeze, earlier this year.

By Dan Krell.
Copyright © 2018.

Original published at https://dankrell.com/blog/2018/08/02/home-buyer-fatigue/

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November 17, 2017September 19, 2018

Marijuana’s high home values

Did you know that the licensing of medical marijuana dispensaries in Maryland has begun? There are only a handful of licensed dispensaries at this time, including one in Montgomery County. Besides dispensaries, Maryland’s budding medical marijuana industry includes growers and processors. Even though the industry is just taking off, there is growing support for legalizing marijuana for recreational use. This is evidenced by recent bills introduced in the Maryland General Assembly that focused on establishing a tax for cannabis sales. Besides increasing tax revenue for states where marijuana is decriminalized, there also seems to be a phenomenon of high home values.

If Maryland does decriminalize marijuana, it could be a potential source of tax. The San Francisco Chronicle (6 lessons from legal pot in Washington and Colorado; sfchronicle.com; September 30, 2016) pointed out that the state of Washington has had a windfall since legalizing pot. It was reported that Washington collected $135 million for the fiscal year 2015 and $186 million for the fiscal year 2016. They were expected a fifty percent for the fiscal year 2017. And that is just on the excise tax on pot products, and doesn’t include the collected sales tax.

About those high home values…

Colorado and Washington state have realized a significant housing boom since decriminalizing marijuana. Washington DC’s housing market has been buzzing along quite nicely as well. While the surrounding suburbs’ housing market has slowed, GCAAR’s October stats (gcarr.com) reveal that Washington DC’s home sales have surged about ten percent year-to-date and average home sale prices grew about four percent! Recent empirical studies have validated the housing-marijuana relationship.

One recent paper that provides such evidence was presented at the 2017 Annual Meeting of the Allied Social Sciences Associations held by the American Economic Association. Cheng, Mayer and Mayer (The Effect of Legalizing Retail Marijuana on Housing Values: Evidence from Colorado; working paper, 2016) measured the “benefits and costs” of legalizing marijuana expressed in home prices. They concede that although marijuana legalization is controversial, there are some benefits. They determined that there is a causal effect such that Colorado’s retail marijuana law implementation was instrumental in its recent housing boom. They concluded that implementing a retail marijuana law will give home prices a bump of about six percent. They also found that high home values and inventory are mutually exclusive, such that the increase in housing demand did not affect housing supply.

Are high home values worth the affects of decriminalizing pot? High home values is not everything.

Regardless of high home values, decriminalizing marijuana is not all peaches and cream. Not to be a buzzkill, marijuana can also negatively impact real estate too. Amy Hoak’s reporting lists a number of issues where legalizing marijuana has adverse effects to housing (5 ways marijuana legalization affects real estate; MarketWatch.com; November 25, 2014).

A major issue Hoak points out concerns federal law. Regardless of any state or local retail marijuana law, the Feds still consider marijuana verboten. Properties (commercial or residential) that are associated with marijuana related activities and can be subjected to civil asset forfeiture. Another issue is financing properties related to the marijuana industry. Federally chartered banks conform to federal law and won’t lend on these properties.

Hoak also points out issues with properties where marijuana is processed, sold or used (commercial or residential). There has been a significant increase in property explosions in states where marijuana has been decriminalized. The explosions are likely due to processing marijuana into hash oil, a process that involves butane. Mold is an issue where marijuana is grown, because of the large amounts of water used in the process. Much like cigarette smoke, marijuana odors can permeate walls and be very difficult to remove. Even if a lease forbids it, residential landlords can have problems when tenants grow, process, and smoke marijuana in the home.

Regardless of the increased home value phenomenon associated with retail marijuana laws, some homes can be difficult to sell. High home values aside, homes that have been “tainted” with odors or mold can languish on the market, even if they are in prime locations. Finally, Hoak pointed out that people are not keen living next to properties involved in the marijuana industry.

Original published at https://dankrell.com/blog/2017/11/17/marijuanas-high-home-values/

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