Is It Time To Put Your House Back on the Market?

Is It Time To Put Your House Back on the Market?

If you took your house off the market in late 2024, you’re not alone. Newsweek reports that data from CoreLogic and the Wall Street Journal (WSJ) shows nearly 73,000 homes were withdrawn from the market in December—more than any other December since 2017 (see graph below):

Whether it was due to low offers, holiday stress, or hoping for a better market in the new year, many homeowners chose to pause their listings.

But with spring approaching, it’s time to reassess. The market is already gaining momentum, and waiting longer could mean facing more competition from other sellers later on.

Why Now Could Be the Right Time

Selma Hepp, Chief Economist at CoreLogic, notes that some of those sellers may have withdrawn their listings last year with plans to relist this spring:

“Another reason for a step back could be that sellers wanted to wait and see how spring home buying season goes, and if mortgage rates fall, which would bring more home buyers and competition back in the market.”

Spring is typically when buyer demand peaks, as warmer weather encourages more people to start their home search. Many buyers aim to close by summer, making it an ideal time for sellers.

While mortgage rates haven't dropped significantly, they've declined slightly in recent weeks, prompting more buyers to enter the market since January. This trend is expected to continue as spring approaches.

What To Do Differently This Time

Start by reviewing your listing agreement. If it's still active, your agent or brokerage remains your best resource for adjusting your strategy. If it has expired, reach out to a trusted real estate professional for guidance. As Realtor.com advises:

"If you aren't sure of the status of your listing, whether active, expired, or withdrawn, take a look at your listing agreement and talk to your real estate agent."

Reflect on why your home didn’t sell and what you can adjust:

• Pricing Strategy: Was the price too high? An agent can help you assess the latest sales data to set a competitive price that attracts more buyers and potential multiple offers.
• Marketing Approach: Did your home look its best? Professional photos, staging, and updated spring visuals can improve how buyers see your home.
• Offering Concessions: Were you open to incentives? More sellers are considering concessions to secure a deal as inventory rises.
• Showings and Flexibility: Were buyers able to see the home easily? More availability increases the chance of receiving offers.

Bottom Line
If your house didn’t sell last year, spring could be your second chance. With buyer activity rising, now’s the time to consult with an agent and create a fresh plan.