Current:Home > ContactHomeowners, this week of April is still the best time to sell your house — just don't expect too much -ValueCore
Homeowners, this week of April is still the best time to sell your house — just don't expect too much
View
Date:2025-04-17 02:03:10
For homeowners looking to sell their property this year, spring is still the best time to sell — but you may want to lower your expectations.
That's according to a report from Realtor.com which finds that the week of April 14-20 is still the ideal period to sell a house, as buyer demand peaks during the third week of April and there's less competition from other sellers on the market. Home prices are also about 1.1% higher in late April, Realtor.com said, meaning a seller could generate the largest possible profit during that month.
But the housing market continues to be challenging for both buyers and sellers this year, as mortgage rates and asking prices continue to climb. The average interest rate on a 30-year home loan was 6.88% on Monday, up from 6.62% in January, according to Freddie Mac. Meanwhile, the national median asking price for a home was $384,500 in February, up 5.7% from a year ago.
For anyone selling their home this year, those figures mean that even during the market's prime selling window, they likely will not be getting everything they're asking for, Realtor.com said.
"Home prices and mortgage rates remain elevated, so buyers are going to be a little bit more picky and are going to be looking for more flexibility from sellers," Hannah Jones, senior economic research analyst at Realtor.com, said in the report.
Home prices rising further out of reach
Home prices are growing more unaffordable for the average American, in part because inventory has been low. Homeowners have been hesitant to sell because they would then face buying another property at today's higher mortgage rates. Some homeowners have also watched their home equity grow in value, making them even more reluctant to walk away from that wealth growth.
Still, springtime brings with it a fresh batch homebuyers who use those longer days and warm temperatures to visit open houses and place offers. Researchers at real estate data provider ATTOM examined about 51 million single-family and condo home sales between 2022 and 2023 and found that those homes sold for the highest price in April, May and June. Of those three months, sellers tend to get the biggest return in May — 13% above their area's median price.
"For sellers, this is your perfect opportunity," Alonna Davis, a realtor in Maryland told CBS Baltimore recently. "Price points are up so if you're thinking about selling make sure your house is in order — get rid of some of those personal items you no longer need — so your home can show well."
The Realtor.com study is based on a survey of 1,000 homeowners who plan to sell their home in the next year and 1,000 sellers who sold their home in the past year. Homeowners in the report said they're expecting to sell their property for around $462,000 on average. Sellers preparing to list their home said they were doing so because of family, the need for more space, downsizing and life events such as "a new marriage, child, or divorce."
Khristopher J. BrooksKhristopher J. Brooks is a reporter for CBS MoneyWatch. He previously worked as a reporter for the Omaha World-Herald, Newsday and the Florida Times-Union. His reporting primarily focuses on the U.S. housing market, the business of sports and bankruptcy.
TwitterveryGood! (17)
Related
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Bluestocking Bookshop of Michigan champions used books: 'I see books I've never seen before'
- Second person of interest taken into custody in murder of Detroit synagogue president Samantha Woll
- Zac Efron Puts on the Greatest Show at Star-Studded Walk of Fame Ceremony
- Louvre will undergo expansion and restoration project, Macron says
- 1000-Lb. Sisters' Amy Slaton Details “Sparks” in New Romance After Michael Halterman Breakup
- SmileDirectClub shuts down months after filing for Chapter 11 bankruptcy protection
- Third Mississippi man is buried in a pauper’s grave without family’s knowledge
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Rescuers have recovered 11 bodies after landslides at a Zambia mine. More than 30 are feared dead
Ranking
- Bodycam footage shows high
- This Is Not A Drill! Abercrombie Is Having A Major Sale With Up to 50% Off Their Most Loved Pieces
- Heart of Hawaii’s historic Lahaina, burned in wildfire, reopens to residents and business owners
- Tucker Carlson says he's launching his own paid streaming service
- Questlove charts 50 years of SNL musical hits (and misses)
- Texas woman who sued state for abortion travels out of state for procedure instead
- Dutch official says Geert Wilders and 3 other party leaders should discuss forming a new coalition
- Air Force watchdog finds alleged Pentagon leaker Jack Teixeira's unit failed to take action after witnessing questionable activity
Recommendation
Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
Red Wings' David Perron suspended six games for cross-checking Artem Zub in the head
Man sues NYC after he spent 27 years in prison, then was cleared in subway token clerk killing
Sarah McLachlan celebrates 30 years of 'Fumbling' with new tour: 'I still pinch myself'
Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
2 winning Mega Millions jackpot tickets sold at same California gas station
Texas woman who sued state for abortion travels out of state for procedure instead
After losing Houston mayor’s race, US Rep. Sheila Jackson Lee to seek reelection to Congress