Pending Home Sales Are Down. But It’s Not What You Think
You’ve probably seen the headlines. Pending home sales fell in April. Nationally, they dropped 7.7% from the previous month and over 7% compared to last year. Sounds like a housing market slowdown, right?
Not really. This isn’t about buyers pulling back. It’s about something we’ve been dealing with for a while now in St. Louis: there just aren’t enough homes for sale. When inventory is this tight, even motivated buyers don’t have much to choose from.
Buyers Are Ready. Homes Are Not.
What the headlines don’t tell you is that demand is still strong. We’re seeing it every day with pre-approvals and multiple offer situations on well-priced homes. The problem is not demand. It’s that there are not enough listings.
Here in the St. Louis market, buyers are out there. They’re prepped, they’re serious, and many of them are frustrated because they can’t find a home that fits.
Have a home to sell? Reach out and we’ll help you price it right and sell it fast.
St. Louis Is Still a Seller’s Market
Despite what national numbers say, St. Louis remains very much in a seller’s market. Homes that show well and are priced right are still moving quickly. We’re seeing multiple offers on listings that would have flown under the radar a year ago. Serious buyers are still in the game.
At Better Rate Mortgage, we help our buyers stand out with full underwriting so they can compete with confidence. And for sellers, we make sure you’re ready to move quickly and get top dollar.
Want your offer to stand out? Let’s connect and give you a leg up on the competition.
The Market Is Not Crashing. It’s Just Stuck.
This isn’t a repeat of 2008. We are not in a market crash. We are in a market gridlock caused by low inventory. Rates have buyers thinking twice, but those who are still shopping are committed. And sellers who are ready to list have an advantage.
Whether you’re a buyer trying to break into the market or a seller looking to cash in on this inventory shortage, having a local expert in your corner makes all the difference.
